Boyd Gaming (NYSE:BYD) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Boyd Gaming Co. (NYSE:BYD) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $64.64 and traded as high as $71.37. Boyd Gaming shares last traded at $71.14, with a volume of 1,021,267 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BYD shares. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, December 17th. Mizuho reissued an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and boosted their target price for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boyd Gaming has an average rating of “Moderate Buy” and an average target price of $91.67.

Boyd Gaming Trading Down 1.0 %

The stock’s 50 day moving average is $72.71 and its two-hundred day moving average is $64.64. The company has a market capitalization of $6.29 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.17 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. Boyd Gaming’s dividend payout ratio is presently 12.98%.

Boyd Gaming declared that its Board of Directors has approved a share buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the transaction, the director now directly owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares of the company’s stock, valued at $452,339.36. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,364 shares of company stock worth $10,590,893. 28.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boyd Gaming

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Boyd Gaming during the third quarter valued at about $64,000. Sanctuary Advisors LLC increased its holdings in shares of Boyd Gaming by 25.3% during the third quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company’s stock valued at $3,062,000 after acquiring an additional 9,565 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Boyd Gaming by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company’s stock valued at $74,611,000 after acquiring an additional 33,379 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Boyd Gaming by 23.9% during the third quarter. Barclays PLC now owns 167,542 shares of the company’s stock valued at $10,831,000 after acquiring an additional 32,332 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

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.