Boyd Gaming (NYSE:BYD) Director Sells $2,545,200.00 in Stock

Boyd Gaming Corporation (NYSE:BYD) Director William Boyd sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the sale, the director directly owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Boyd Gaming Stock Performance

Boyd Gaming stock traded up $0.25 during midday trading on Thursday, reaching $85.00. 580,259 shares of the company’s stock were exchanged, compared to its average volume of 878,884. The stock’s 50-day simple moving average is $85.33 and its 200 day simple moving average is $83.75. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 3.74, a P/E/G ratio of 1.76 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.96.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 33.49% and a net margin of 45.05%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 15th. Boyd Gaming’s payout ratio is 3.16%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BYD shares. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. UBS Group set a $110.00 price target on shares of Boyd Gaming in a report on Wednesday, December 24th. Citigroup initiated coverage on shares of Boyd Gaming in a research report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price objective for the company. Wells Fargo & Company decreased their target price on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Monday, February 9th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.58.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd acquired a new position in Boyd Gaming during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC bought a new position in Boyd Gaming in the 4th quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Boyd Gaming by 219.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Boyd Gaming during the second quarter worth $39,000. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.