Boyd Gaming Co. (NYSE:BYD) Chairman Sells $3,884,000.00 in Stock

Boyd Gaming Co. (NYSE:BYD) Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $78.57 on Friday. 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 stock’s fifty day simple moving average is $74.39 and its two-hundred day simple moving average is $68.17. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The stock has a market cap of $6.95 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 4.38 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share 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%. As a group, analysts forecast that Boyd Gaming Co. will post 6.57 EPS for the current fiscal year.

Boyd Gaming announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s dividend payout ratio is presently 10.93%.

Institutional Investors Weigh In On Boyd Gaming

Large investors have recently made changes to their positions in the business. UMB Bank n.a. increased its position in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Covestor Ltd increased its position in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares during the last quarter. Quarry LP increased its position 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 purchasing an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on BYD. Truist Financial increased their price target on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus increased their price target on Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Barclays increased their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Wells Fargo & Company increased their price target on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, StockNews.com cut Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and an average target price of $95.00.

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.