Boyd Gaming (NYSE:BYD) Director William Boyd Sells 30,000 Shares of Stock

Boyd Gaming Corporation (NYSE:BYD) Director William Boyd sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total value of $2,545,200.00. Following the transaction, the director directly owned 1,930,447 shares in the company, valued at $163,779,123.48. This represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Boyd Gaming Stock Performance

NYSE BYD traded up $1.01 during trading on Friday, hitting $86.07. 74,151 shares of the company’s stock traded hands, compared to its average volume of 854,558. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 3.79, a PEG ratio of 1.79 and a beta of 1.24. Boyd Gaming Corporation has a 12-month low of $58.94 and a 12-month high of $89.96. The business has a 50 day moving average of $85.34 and a 200-day moving average of $83.76.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.33. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 33.49%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 earnings per share. As a group, equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be given a dividend of $0.20 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, March 16th. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.16%.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors and hedge funds have recently bought and sold shares of BYD. Asset Management One Co. Ltd. bought a new stake in Boyd Gaming in the third quarter valued at $1,531,000. Allianz Asset Management GmbH lifted its position in shares of Boyd Gaming by 174.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock worth $23,701,000 after purchasing an additional 174,214 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Boyd Gaming during the 2nd quarter valued at about $563,000. LSV Asset Management increased its position in shares of Boyd Gaming by 115.8% during the second quarter. LSV Asset Management now owns 245,100 shares of the company’s stock valued at $19,174,000 after buying an additional 131,500 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Boyd Gaming by 9.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 340,281 shares of the company’s stock worth $29,615,000 after buying an additional 30,543 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BYD has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on Boyd Gaming from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Wells Fargo & Company lowered their price target on shares of Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a report on Monday, February 9th. Susquehanna reduced their price objective on shares of Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.58.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.