Boyd Gaming Co. (NYSE:BYD) Director Sells $1,189,800.00 in Stock

Boyd Gaming Co. (NYSE:BYD) Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Boyd Gaming Price Performance

NYSE BYD opened at $76.86 on Friday. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50. The company has a fifty day simple moving average of $74.77 and a 200 day simple moving average of $68.84. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The company has a market cap of $6.79 billion, a P/E ratio of 12.36, a P/E/G ratio of 4.47 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, sell-side analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a yield of 0.94%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s dividend payout ratio (DPR) is 10.93%.

Boyd Gaming announced that its board has authorized a stock repurchase plan on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Boyd Gaming

Several hedge funds and other institutional investors have recently modified their holdings of BYD. GAMMA Investing LLC raised its stake in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. UMB Bank n.a. grew its position in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. Cetera Trust Company N.A increased its stake in Boyd Gaming by 6.2% during the fourth quarter. Cetera Trust Company N.A now owns 3,535 shares of the company’s stock valued at $256,000 after acquiring an additional 205 shares during the period. Covestor Ltd lifted its position in shares of Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares during the period. Finally, KBC Group NV increased its holdings in Boyd Gaming by 0.9% in the 3rd quarter. KBC Group NV now owns 25,407 shares of the company’s stock valued at $1,643,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, December 17th. Truist Financial boosted their price objective on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus increased their target price on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

About Boyd Gaming

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.