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 firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boyd Gaming Stock Down 0.2 %

Shares of Boyd Gaming stock traded down $0.20 during trading on Thursday, reaching $79.32. The stock had a trading volume of 640,443 shares, compared to its average volume of 956,977. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 4.46 and a beta of 1.54. The stock has a fifty day moving average price of $74.64 and a two-hundred day moving average price of $68.61. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

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

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s payout ratio is 10.93%.

Boyd Gaming announced that its Board of Directors has approved a share repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Susquehanna raised their price target on Boyd Gaming from $69.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Truist Financial raised their price target on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus raised their price target on Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Finally, Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, nine have given 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 a consensus price target of $95.00.

Institutional Trading of Boyd Gaming

Institutional investors have recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in shares of Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 47.4% in 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 during the last quarter. CoreCap Advisors LLC increased 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 valued at $42,000 after acquiring an additional 273 shares during the last quarter. Covestor Ltd increased its position in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Finally, Quarry LP increased its position in shares of Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after acquiring an additional 524 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

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.