Christine J. Spadafor Sells 660 Shares of Boyd Gaming Co. (NYSE:BYD) Stock

Boyd Gaming Co. (NYSE:BYD) Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,977 shares in the company, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Boyd Gaming Price Performance

NYSE BYD opened at $73.76 on Tuesday. The company has a market cap of $6.52 billion, a P/E ratio of 14.08, a P/E/G ratio of 9.93 and a beta of 1.54. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $76.73. 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 company has a fifty day simple moving average of $70.48 and a 200 day simple moving average of $62.45.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, December 16th. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Boyd Gaming declared that its Board of Directors has approved a share buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Boyd Gaming from $69.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday. Bank of America boosted their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays raised their price target on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus price target of $91.77.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Boyd Gaming during the 2nd quarter worth approximately $730,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Boyd Gaming by 36.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,514 shares of the company’s stock valued at $249,000 after acquiring an additional 1,209 shares during the period. Blue Trust Inc. boosted its stake in shares of Boyd Gaming by 58.2% in the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after purchasing an additional 288 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Boyd Gaming by 15.6% in the 2nd quarter. Fifth Third Bancorp now owns 4,199 shares of the company’s stock worth $231,000 after purchasing an additional 566 shares during the last quarter. Finally, Burney Co. increased its position in shares of Boyd Gaming by 7.4% during the 2nd quarter. Burney Co. now owns 72,704 shares of the company’s stock worth $4,006,000 after purchasing an additional 5,028 shares in the last quarter. Institutional investors and hedge funds 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.