Boyd Gaming (NYSE:BYD) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Boyd Gaming Co. (NYSE:BYD - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $64.64 and traded as high as $71.37. Boyd Gaming shares last traded at $71.14, with a volume of 1,021,267 shares trading hands.

Analyst Upgrades and Downgrades

BYD has been the subject of several research reports. Bank of America raised their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Morgan Stanley lifted their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Boyd Gaming from $69.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and increased their price objective for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Finally, StockNews.com raised shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Boyd Gaming Stock Down 1.0 %

The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54. The firm has a 50 day moving average of $72.76 and a two-hundred day moving average of $64.83.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, December 16th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.98%.

Boyd Gaming announced that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Christine J. Spadafor sold 660 shares of Boyd Gaming 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 sale, the director now directly owns 5,977 shares in the company, valued at $452,339.36. This trade represents a 9.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now owns 1,161,202 shares of the company's stock, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,364 shares of company stock valued at $10,590,893. 27.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BYD. Ariel Investments LLC raised its position in shares of Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock worth $167,046,000 after acquiring an additional 335,984 shares during the last quarter. State Street Corp raised its holdings in Boyd Gaming by 0.8% during the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company's stock worth $136,680,000 after purchasing an additional 17,591 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boyd Gaming by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company's stock worth $74,611,000 after purchasing an additional 33,379 shares during the period. American Century Companies Inc. boosted its stake in shares of Boyd Gaming by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company's stock valued at $63,349,000 after purchasing an additional 189,226 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Boyd Gaming by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company's stock worth $62,835,000 after buying an additional 54,128 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

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.