Boyd Gaming Co. (NYSE:BYD) Director Sells $84,690.00 in Stock

Boyd Gaming Co. (NYSE:BYD) Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the sale, the director now directly owns 4,852 shares in the company, valued at approximately $365,258.56. This represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $68.95 on Friday. The company has a 50 day moving average of $75.25 and a 200 day moving average of $69.99. The stock has a market cap of $5.77 billion, a P/E ratio of 11.08, a P/E/G ratio of 4.46 and a beta of 1.54. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming declared that its board has approved a share buyback program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. 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. Boyd Gaming’s payout ratio is currently 11.58%.

Hedge Funds Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. grew its stake in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. GAMMA Investing LLC grew its stake in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 148 shares in the last quarter. Covestor Ltd grew its stake in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares in the last quarter. CoreCap Advisors LLC grew its stake in Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after buying an additional 273 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after purchasing an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BYD shares. Wells Fargo & Company lifted their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Barclays boosted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Susquehanna boosted their price target on shares of Boyd Gaming from $69.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Truist Financial boosted their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

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.