William Boyd Sells 30,000 Shares of Boyd Gaming (NYSE:BYD) Stock

Boyd Gaming Corporation (NYSE:BYD) Director William Boyd sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the transaction, the director directly owned 1,930,447 shares of the company’s stock, valued at $163,779,123.48. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Boyd Gaming Price Performance

NYSE:BYD opened at $86.25 on Friday. The business’s 50-day simple moving average is $85.36 and its two-hundred day simple moving average is $83.78. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.96. The stock has a market cap of $6.74 billion, a PE ratio of 3.79, a P/E/G ratio of 1.79 and a beta of 1.24. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 33.49% and a net margin of 45.05%.The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted $1.96 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 16th. Boyd Gaming’s payout ratio is presently 3.16%.

Analysts Set New Price Targets

A number of analysts have issued reports on BYD shares. Macquarie Infrastructure reiterated a “neutral” rating and issued a $90.00 price target on shares of Boyd Gaming in a report on Friday, October 24th. Susquehanna reduced their target price on Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. UBS Group set a $110.00 target price on Boyd Gaming in a research report on Wednesday, December 24th. Wells Fargo & Company cut their price target on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Monday, February 9th. Finally, Stifel Nicolaus lifted their price objective on Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.58.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. bought a new stake in shares of Boyd Gaming in the 3rd quarter worth about $1,531,000. Allianz Asset Management GmbH raised its position in Boyd Gaming by 174.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock worth $23,701,000 after purchasing an additional 174,214 shares during the period. Fox Run Management L.L.C. purchased a new stake in Boyd Gaming in the 2nd quarter worth about $563,000. LSV Asset Management lifted its stake in Boyd Gaming by 115.8% in the second quarter. LSV Asset Management now owns 245,100 shares of the company’s stock worth $19,174,000 after purchasing an additional 131,500 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Boyd Gaming by 9.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 340,281 shares of the company’s stock valued at $29,615,000 after buying an additional 30,543 shares during the period. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.