Boyd Gaming Co. (NYSE:BYD) Chairman Marianne Boyd Johnson Sells 50,000 Shares

Boyd Gaming Co. (NYSE:BYD) Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Boyd Gaming Stock Up 0.6 %

Shares of BYD opened at $78.57 on Friday. The firm has a market cap of $6.95 billion, a P/E ratio of 12.63, a P/E/G ratio of 4.38 and a beta of 1.54. The stock has a 50 day simple moving average of $74.39 and a two-hundred day simple moving average of $68.17. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Boyd Gaming Co. will post 6.57 earnings per share for the current fiscal year.

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

Boyd Gaming Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Truist Financial raised their target price on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus raised their target price on Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. Finally, Morgan Stanley raised their target price on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Institutional Trading of Boyd Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of BYD. UMB Bank n.a. raised its holdings in shares of Boyd Gaming by 80.3% during the fourth 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 raised its holdings in Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares in the last quarter. Covestor Ltd raised its holdings in Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares in the last quarter. Quarry LP raised its holdings in Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after purchasing an additional 524 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after purchasing an additional 802 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.