Arbejdsmarkedets Tillaegspension Purchases 10,476 Shares of Boyd Gaming Corporation $BYD

Arbejdsmarkedets Tillaegspension lifted its position in Boyd Gaming Corporation (NYSE:BYD) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 299,948 shares of the company’s stock after purchasing an additional 10,476 shares during the period. Arbejdsmarkedets Tillaegspension owned about 0.40% of Boyd Gaming worth $24,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. J. Safra Sarasin Holding AG bought a new stake in Boyd Gaming in the 1st quarter valued at $307,000. Fifth Third Bancorp grew its holdings in Boyd Gaming by 2,891.0% during the 1st quarter. Fifth Third Bancorp now owns 44,088 shares of the company’s stock valued at $3,623,000 after buying an additional 42,614 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Boyd Gaming by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,913 shares of the company’s stock worth $979,000 after acquiring an additional 324 shares during the last quarter. DGS Capital Management LLC bought a new stake in Boyd Gaming in the first quarter worth $410,000. Finally, QRG Capital Management Inc. raised its stake in Boyd Gaming by 95.5% during the first quarter. QRG Capital Management Inc. now owns 47,719 shares of the company’s stock valued at $3,922,000 after purchasing an additional 23,310 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on BYD shares. JPMorgan Chase & Co. lifted their price target on Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wells Fargo & Company decreased their price objective on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Citigroup upped their price objective on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Morgan Stanley reissued a “mixed” rating on shares of Boyd Gaming in a research note on Wednesday, April 8th. Finally, Barclays decreased their price objective on shares of Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.15.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total value of $5,286,663.42. Following the transaction, the chairman directly owned 1,609,808 shares in the company, valued at $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $17,038,987. 22.82% of the stock is owned by insiders.

Boyd Gaming Stock Down 0.6%

Boyd Gaming stock opened at $85.71 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The firm has a market cap of $6.37 billion, a P/E ratio of 3.76, a P/E/G ratio of 2.01 and a beta of 1.07. The business has a fifty day moving average of $84.96 and a two-hundred day moving average of $84.75. Boyd Gaming Corporation has a twelve month low of $76.33 and a twelve month high of $91.00.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The company had revenue of $997.36 million during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. On average, analysts forecast that Boyd Gaming Corporation will post 7.32 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.51%.

Boyd Gaming declared that its board has initiated a share repurchase plan on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.