William R. Boyd Sells 15,000 Shares of Boyd Gaming Co. (NYSE:BYD) Stock

Boyd Gaming Co. (NYSE:BYD) Director William R. Boyd sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Boyd Gaming Price Performance

NYSE:BYD opened at $76.86 on Friday. 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’s 50-day moving average price is $74.77 and its 200 day moving average price is $68.84. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $80.50. The firm has a market cap of $6.79 billion, a P/E ratio of 12.36, a PEG ratio of 4.47 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.18 dividend. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 0.94%. Boyd Gaming’s payout ratio is 10.93%.

Boyd Gaming announced that its Board of Directors has approved a share repurchase plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Boyd Gaming

Several large investors have recently modified their holdings of the stock. PharVision Advisers LLC purchased a new stake in shares of Boyd Gaming during the fourth quarter valued at $522,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Boyd Gaming by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,571 shares of the company’s stock worth $11,575,000 after buying an additional 32,020 shares during the period. WBI Investments LLC lifted its stake in Boyd Gaming by 440.7% during the fourth quarter. WBI Investments LLC now owns 38,257 shares of the company’s stock valued at $2,775,000 after buying an additional 31,182 shares in the last quarter. State of Wyoming boosted its holdings in shares of Boyd Gaming by 253.1% in the fourth quarter. State of Wyoming now owns 5,597 shares of the company’s stock worth $406,000 after buying an additional 4,012 shares during the period. Finally, Seven Six Capital Management LLC purchased a new position in shares of Boyd Gaming in the fourth quarter worth approximately $9,162,000. 76.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Mizuho increased their price objective on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Seven research 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 has an average rating of “Moderate Buy” and an average price target of $95.00.

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.