Boyd Gaming Co. (NYSE:BYD) Director William R. Boyd Sells 15,000 Shares

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

Boyd Gaming Stock Down 0.2 %

Shares of NYSE BYD opened at $79.32 on Friday. 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 firm has a fifty day simple moving average of $74.73 and a two-hundred day simple moving average of $68.69. The firm has a market capitalization of $7.01 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 4.46 and a beta of 1.54. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Equities analysts expect that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming announced that its Board of Directors has approved a stock buyback plan on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.91%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s dividend payout ratio is 10.93%.

Institutional Trading of Boyd Gaming

Several institutional investors have recently bought and sold shares of BYD. UMB Bank n.a. boosted its holdings in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC raised its position 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 buying an additional 148 shares during the last quarter. Covestor Ltd lifted its stake in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after buying an additional 273 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after acquiring an additional 524 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on BYD shares. Mizuho boosted their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Finally, Truist Financial upped their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.