Boyd Gaming (NYSE:BYD – Free Report) had its price objective raised by Barclays from $74.00 to $78.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.
BYD has been the subject of a number of other research reports. Truist Financial increased their price objective on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a research report on Friday. Mizuho upped their price objective on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday. Finally, StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.00.
Read Our Latest Stock Report on Boyd Gaming
Boyd Gaming Trading Down 1.9 %
Boyd Gaming (NYSE:BYD – Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.10% and a net margin of 13.01%. Sell-side analysts anticipate that Boyd Gaming will post 6.35 EPS for the current year.
Boyd Gaming announced that its board has approved a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Boyd Gaming Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s dividend payout ratio is currently 12.98%.
Insider Buying and Selling
In related news, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the sale, the chief executive officer now owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,660 shares of company stock worth $7,307,149. 28.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of BYD. Victory Capital Management Inc. increased its position in shares of Boyd Gaming by 6,158.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after purchasing an additional 894,383 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Boyd Gaming during the fourth quarter valued at approximately $43,273,000. International Assets Investment Management LLC increased its holdings in Boyd Gaming by 4,816.4% during the third quarter. International Assets Investment Management LLC now owns 184,560 shares of the company’s stock valued at $119,320,000 after buying an additional 180,806 shares during the last quarter. Goldentree Asset Management LP bought a new position in Boyd Gaming in the third quarter worth approximately $11,490,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 226.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock worth $14,569,000 after acquiring an additional 140,707 shares during the last quarter. 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.
Read More
- Five stocks we like better than Boyd Gaming
- What Are Dividends? Buy the Best Dividend Stocks
- IBM’s AI Bet Pays Off—What’s Next for Investors?
- What is the FTSE 100 index?
- 3 Reasons to Treat AMD’s Drop as an Entry Opportunity
- Retail Stocks Investing, Explained
- Qualcomm’s Post-Earnings Dip: A Prime Buying Opportunity?
Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.