Boyd Gaming Co. (NYSE:BYD) Director Christine J. Spadafor Sells 660 Shares

Boyd Gaming Co. (NYSE:BYD) Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the transaction, the director now directly owns 5,977 shares of the company’s stock, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Boyd Gaming Trading Down 1.4 %

Shares of NYSE:BYD traded down $1.02 during mid-day trading on Monday, reaching $73.76. The stock had a trading volume of 672,422 shares, compared to its average volume of 902,527. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The firm has a market cap of $6.52 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54. The firm has a 50 day simple moving average of $70.30 and a two-hundred day simple moving average of $62.29. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $76.73.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.17 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. Boyd Gaming’s dividend payout ratio is presently 12.98%.

Boyd Gaming announced that its board has authorized a share buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho restated an “outperform” rating and set a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Truist Financial boosted their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.77.

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.