Insider Selling: Boyd Gaming Co. (NYSE:BYD) Director Sells 1,125 Shares of Stock

Boyd Gaming Co. (NYSE:BYD - Get Free Report) Director Christine J. Spadafor sold 1,125 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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. The trade was a 18.82 % 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 Trading Down 4.0 %

NYSE BYD traded down $2.86 during mid-day trading on Friday, reaching $68.95. 1,826,938 shares of the stock were exchanged, compared to its average volume of 949,030. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The stock has a 50 day simple moving average of $75.18 and a 200-day simple moving average of $70.14. 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 1.55. 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 (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

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Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.18 per share. 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 positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is 11.58%.

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

Hedge Funds Weigh In On Boyd Gaming

Institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its holdings 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 acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 acquiring an additional 148 shares during the period. 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 buying an additional 208 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Boyd Gaming by 150.1% during the third 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. Institutional investors own 76.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BYD shares. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Morgan Stanley cut shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $82.00 to $81.00 in a report on Monday, February 24th. JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Truist Financial increased their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus increased their price target on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming 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.