Susquehanna Lowers Boyd Gaming (NYSE:BYD) Price Target to $75.00

Boyd Gaming (NYSE:BYD - Free Report) had its price objective trimmed by Susquehanna from $77.00 to $75.00 in a report issued on Wednesday, MarketBeat.com reports. The firm currently has a positive rating on the stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company increased 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. StockNews.com lowered Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Morgan Stanley cut shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $82.00 to $81.00 in a research report on Monday, February 24th. Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a report on Tuesday, December 17th. Finally, Truist Financial reduced their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Boyd Gaming currently has an average rating of "Moderate Buy" and a consensus price target of $94.27.

Boyd Gaming Stock Performance

Shares of NYSE:BYD traded down $0.81 during trading on Wednesday, reaching $63.87. 381,896 shares of the stock were exchanged, compared to its average volume of 976,162. The firm has a market cap of $5.27 billion, a PE ratio of 10.27, a PEG ratio of 4.46 and a beta of 1.31. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $80.50. The stock has a 50-day moving average price of $69.58 and a 200-day moving average price of $71.12.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Research analysts expect that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a $0.18 dividend. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date was Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.13%. Boyd Gaming's payout ratio is currently 11.58%.

Insider Buying and Selling

In other news, 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, the director now owns 4,852 shares of the company's stock, valued at approximately $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,125 shares of company stock valued at $5,158,490 in the last three months. Insiders own 27.94% of the company's stock.

Institutional Trading of Boyd Gaming

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in Boyd Gaming by 1.0% in the fourth quarter. Rhumbline Advisers now owns 185,714 shares of the company's stock valued at $13,472,000 after purchasing an additional 1,797 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Boyd Gaming by 25.3% in the third quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company's stock worth $3,062,000 after acquiring an additional 9,565 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Boyd Gaming by 226.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock valued at $14,569,000 after acquiring an additional 140,707 shares during the period. Truist Financial Corp increased its holdings in shares of Boyd Gaming by 20.7% during the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company's stock valued at $323,000 after acquiring an additional 765 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in shares of Boyd Gaming during the fourth quarter worth approximately $307,000. 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.