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

Boyd Gaming Co. (NYSE:BYD)’s stock price reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BYD. Morgan Stanley lifted their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their price objective on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. Mizuho reaffirmed an “outperform” rating and issued a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Finally, Macquarie dropped their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Price Performance

The firm has a market cap of $6.57 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 8.96 and a beta of 1.55. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The business has a 50-day moving average of $63.90 and a two-hundred day moving average of $58.64.

Boyd Gaming Announces Dividend

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

Insider Buying and Selling

In related news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares in the company, valued at $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Boyd sold 25,155 shares of the stock in a transaction dated 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 sale, the director now directly owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,527 shares of company stock worth $6,224,086 in the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ariel Investments LLC boosted its position in shares of Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after purchasing an additional 335,984 shares in the last quarter. Boston Partners boosted its holdings in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after acquiring an additional 274,876 shares in the last quarter. Bamco Inc. NY boosted its holdings in Boyd Gaming by 4.0% in the first quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock worth $127,864,000 after acquiring an additional 73,491 shares in the last quarter. American Century Companies Inc. boosted its holdings in Boyd Gaming by 19.7% in the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after acquiring an additional 189,226 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Boyd Gaming by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after acquiring an additional 3,087 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

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.