Boyd Gaming (NYSE:BYD) Reaches New 1-Year High – Here’s Why

Boyd Gaming Co. (NYSE:BYD)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $73.08 and last traded at $72.51, with a volume of 20046 shares. The stock had previously closed at $68.92.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Macquarie dropped their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Bank of America raised their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus raised their target price on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their target price on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Stock Up 3.9 %

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 stock has a 50-day simple moving average of $63.90 and a 200-day simple moving average of $58.64. The firm has a market capitalization of $6.57 billion, a PE ratio of 13.15, a P/E/G ratio of 8.96 and a beta of 1.55.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Insiders Place Their Bets

In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the sale, the director now directly owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Boyd sold 25,155 shares of Boyd Gaming stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the transaction, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,527 shares of company stock valued at $6,224,086 over the last ninety days. 28.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

Several hedge funds have recently added to or reduced their stakes in the company. Cetera Trust Company N.A increased its holdings in shares of Boyd Gaming by 5.4% in the third quarter. Cetera Trust Company N.A now owns 3,330 shares of the company’s stock worth $215,000 after buying an additional 170 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after buying an additional 189 shares during the period. AlphaMark Advisors LLC increased its holdings in shares of Boyd Gaming by 2.6% in the second quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock worth $444,000 after buying an additional 205 shares during the period. Covestor Ltd increased its holdings in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares during the period. Finally, KBC Group NV increased its holdings in shares of Boyd Gaming by 0.9% in the third quarter. KBC Group NV now owns 25,407 shares of the company’s stock worth $1,643,000 after buying an additional 232 shares during the period. Institutional investors own 76.81% of the company’s stock.

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.