Insider Selling: Boyd Gaming Co. (BYD) Director Sells 25,510 Shares of Stock
Boyd Gaming Co. (NYSE:BYD) Director Robert L. Boughner sold 25,510 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $25.21, for a total value of $643,107.10. Following the completion of the transaction, the director now owns 65,510 shares in the company, valued at approximately $1,651,507.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Robert L. Boughner also recently made the following trade(s):
- On Monday, March 6th, Robert L. Boughner sold 60,000 shares of Boyd Gaming stock. The stock was sold at an average price of $19.64, for a total value of $1,178,400.00.
Shares of Boyd Gaming Co. (NYSE:BYD) traded up 0.48% during midday trading on Wednesday, hitting $25.16. 667,973 shares of the stock traded hands. The company has a market capitalization of $2.85 billion, a PE ratio of 6.91 and a beta of 1.64. The firm’s 50 day moving average price is $23.41 and its 200 day moving average price is $20.93. Boyd Gaming Co. has a 12-month low of $16.77 and a 12-month high of $25.40.
Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business had revenue of $605.34 million during the quarter, compared to the consensus estimate of $601.11 million. Boyd Gaming had a net margin of 18.37% and a return on equity of 13.66%. Analysts expect that Boyd Gaming Co. will post $1.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Thursday, June 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.79%. The ex-dividend date is Tuesday, June 13th.
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BYD has been the topic of a number of research reports. Cann upgraded Boyd Gaming to a “buy” rating and increased their price objective for the stock from $20.00 to $27.00 in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Buckingham Research initiated coverage on Boyd Gaming in a report on Friday, January 27th. They issued a “buy” rating and a $23.00 price objective on the stock. Instinet increased their price objective on Boyd Gaming from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 15th. Aegis started coverage on Boyd Gaming in a report on Monday, February 13th. They set a “buy” rating and a $24.00 price target on the stock. Finally, SunTrust Banks, Inc. started coverage on Boyd Gaming in a report on Thursday, February 9th. They set a “buy” rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Boyd Gaming currently has an average rating of “Buy” and a consensus price target of $25.54.
Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Boyd Gaming during the first quarter valued at about $157,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Boyd Gaming during the first quarter valued at about $161,000. Victory Capital Management Inc. purchased a new stake in shares of Boyd Gaming during the first quarter valued at about $175,000. State of Alaska Department of Revenue increased its stake in shares of Boyd Gaming by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 9,110 shares of the company’s stock valued at $200,000 after buying an additional 240 shares during the last quarter. Finally, Managed Asset Portfolios LLC purchased a new stake in shares of Boyd Gaming during the fourth quarter valued at about $202,000. 69.79% of the stock is owned by institutional investors and hedge funds.
About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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