Christine J. Spadafor Sells 1,125 Shares of Boyd Gaming Co. (NYSE:BYD) Stock

Boyd Gaming Co. (NYSE:BYD) Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at approximately $365,258.56. This represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Boyd Gaming Stock Down 2.1 %

Shares of Boyd Gaming stock opened at $71.74 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a market cap of $6.01 billion, a P/E ratio of 11.53, a P/E/G ratio of 4.46 and a beta of 1.54. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The business has a 50-day moving average price of $75.26 and a 200 day moving average price of $69.98.

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

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 issued a $0.18 dividend. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming’s payout ratio is currently 11.58%.

Boyd Gaming announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BYD shares. Truist Financial boosted their price objective on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. StockNews.com cut Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, December 17th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.20.

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its holdings in shares of Boyd Gaming by 10.5% during the third quarter. Creative Planning now owns 8,797 shares of the company’s stock valued at $569,000 after purchasing an additional 838 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Boyd Gaming during the third quarter valued at approximately $241,000. US Bancorp DE grew its holdings in shares of Boyd Gaming by 21.0% during the third quarter. US Bancorp DE now owns 2,590 shares of the company’s stock valued at $167,000 after purchasing an additional 449 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Boyd Gaming by 921.8% during the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Boyd Gaming by 22.4% during the third quarter. QRG Capital Management Inc. now owns 12,642 shares of the company’s stock valued at $817,000 after purchasing an additional 2,313 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

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.