Alaska Permanent Fund Corp Takes $438,000 Position in Boyd Gaming Co. (NYSE:BYD)

Alaska Permanent Fund Corp purchased a new stake in shares of Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,000 shares of the company’s stock, valued at approximately $438,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its position in Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter worth about $30,000. Allworth Financial LP raised its holdings in Boyd Gaming by 3,333.3% in the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after buying an additional 1,000 shares during the period. Blue Trust Inc. lifted its position in Boyd Gaming by 20,342.9% in the fourth quarter. Blue Trust Inc. now owns 1,431 shares of the company’s stock valued at $87,000 after buying an additional 1,424 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Boyd Gaming by 37.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,882 shares of the company’s stock worth $118,000 after buying an additional 509 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boyd Gaming

In other news, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder William S. Boyd sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the sale, the insider now owns 9,358,913 shares in the company, valued at $596,817,882.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the transaction, the vice president now directly owns 1,617,970 shares of the company’s stock, valued at $103,614,798.80. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock worth $37,299,461 over the last ninety days. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and decreased their price target for the stock from $78.00 to $71.00 in a research note on Friday. Stifel Nicolaus dropped their price objective on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley increased their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.20.

Boyd Gaming Stock Performance

Shares of BYD opened at $53.18 on Friday. Boyd Gaming Co. has a 1 year low of $52.42 and a 1 year high of $73.00. The stock has a market capitalization of $5.09 billion, a PE ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a 50-day simple moving average of $63.98 and a 200-day simple moving average of $62.01.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The company had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Boyd Gaming Co. will post 6.19 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is 12.21%.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.