Boyd Gaming Co. (NYSE:BYD) Director Sells $1,744,499.25 in Stock

Boyd Gaming Co. (NYSE:BYD) Director William R. Boyd sold 25,155 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the sale, the director now directly owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Boyd Gaming Trading Down 0.9 %

Boyd Gaming stock opened at $68.66 on Friday. The stock has a market cap of $6.30 billion, a P/E ratio of 13.10, a PEG ratio of 9.19 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $72.22. The firm’s 50 day moving average price is $63.55 and its 200-day moving average price is $58.64.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s payout ratio is currently 12.98%.

Institutional Investors Weigh In On Boyd Gaming

Several institutional investors and hedge funds have recently modified their holdings of BYD. Allspring Global Investments Holdings LLC raised its position in shares of Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after buying an additional 189 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Boyd Gaming by 2.4% in the first quarter. State of Michigan Retirement System now owns 17,024 shares of the company’s stock valued at $1,146,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Boyd Gaming by 115.0% in the first quarter. BNP Paribas Financial Markets now owns 67,755 shares of the company’s stock valued at $4,561,000 after purchasing an additional 36,237 shares in the last quarter. Fortem Financial Group LLC grew its holdings in shares of Boyd Gaming by 10.3% in the first quarter. Fortem Financial Group LLC now owns 17,289 shares of the company’s stock valued at $1,164,000 after purchasing an additional 1,615 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Boyd Gaming by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 60,810 shares of the company’s stock valued at $4,094,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BYD. Macquarie reduced their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Bank of America upped their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Mizuho reissued an “outperform” rating and issued a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Finally, StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.38.

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.