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

Boyd Gaming Co. (NYSE:BYD - Get Free Report) Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the transaction, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Boyd Gaming Trading Up 0.6 %

BYD traded up $0.50 during trading on Monday, reaching $78.57. The company had a trading volume of 951,791 shares, compared to its average volume of 914,832. 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 business has a 50 day simple moving average of $74.47 and a 200-day simple moving average of $68.37. The stock has a market cap of $6.95 billion, a P/E ratio of 12.63, a PEG ratio of 4.38 and a beta of 1.54. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50.

Boyd Gaming (NYSE:BYD - Get Free Report) last released 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 net margin of 14.70% and a return on equity of 35.97%. On average, equities analysts anticipate that Boyd Gaming Co. will post 6.57 EPS for the current fiscal year.

Boyd Gaming announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.87%. Boyd Gaming's dividend payout ratio (DPR) is presently 10.93%.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC boosted its holdings in shares of Boyd Gaming by 25.3% in the third quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company's stock valued at $3,062,000 after purchasing an additional 9,565 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Boyd Gaming by 11,891.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company's stock worth $4,016,000 after buying an additional 61,599 shares during the period. Weiss Asset Management LP bought a new position in shares of Boyd Gaming during the 3rd quarter worth $7,101,000. Quadrature Capital Ltd increased its stake in shares of Boyd Gaming by 201.3% during the third quarter. Quadrature Capital Ltd now owns 49,951 shares of the company's stock valued at $3,229,000 after buying an additional 33,374 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BYD shares. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Tuesday, December 17th. Truist Financial lifted their price objective on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Finally, Barclays increased their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.00.

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.