Insider Selling: Boyd Gaming Co. (NYSE:BYD) Director Sells 15,000 Shares of Stock

Boyd Gaming Co. (NYSE:BYD) Director William R. Boyd sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Boyd Gaming Stock Performance

Shares of BYD opened at $76.86 on Friday. 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 business’s 50 day moving average price is $74.77 and its 200-day moving average price is $68.94. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The stock has a market cap of $6.79 billion, a P/E ratio of 12.36, a P/E/G ratio of 4.46 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Equities research analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 0.94%. Boyd Gaming’s dividend payout ratio is 10.93%.

Boyd Gaming declared that its board has initiated a stock repurchase plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BYD. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Mizuho upped their target price on Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, December 17th. Finally, Truist Financial upped their target price on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Hedge Funds Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. GAMMA Investing LLC lifted its position in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Covestor Ltd lifted its position in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after buying an additional 273 shares during the period. Finally, Quarry LP lifted its holdings in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares during the period. 76.81% of the stock is owned by institutional investors.

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.