Boyd Gaming Co. (NYSE:BYD) VP Sells $4,147,500.00 in Stock

Boyd Gaming Co. (NYSE:BYDGet Rating) VP William R. Boyd sold 70,000 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $59.25, for a total transaction of $4,147,500.00. Following the transaction, the vice president now directly owns 1,986,522 shares of the company’s stock, valued at approximately $117,701,428.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of BYD stock traded up $0.78 on Monday, reaching $60.17. 1,072,728 shares of the company were exchanged, compared to its average volume of 1,167,771. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 12.86 and a beta of 1.90. The business has a 50-day moving average price of $60.32 and a 200 day moving average price of $62.61. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.96 and a current ratio of 0.99. Boyd Gaming Co. has a 1 year low of $50.38 and a 1 year high of $72.72.

Boyd Gaming (NYSE:BYDGet Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.16. The business had revenue of $860.74 million during the quarter, compared to analysts’ expectations of $836.15 million. Boyd Gaming had a net margin of 15.09% and a return on equity of 43.32%. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, equities analysts anticipate that Boyd Gaming Co. will post 5.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, June 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. Boyd Gaming’s dividend payout ratio is currently 6.28%.

Several brokerages recently issued reports on BYD. Susquehanna Bancshares raised shares of Boyd Gaming from a “neutral” rating to a “positive” rating and raised their target price for the stock from $73.00 to $74.00 in a report on Tuesday, April 26th. Susquehanna raised their target price on shares of Boyd Gaming from $74.00 to $79.00 in a report on Wednesday, April 27th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Friday, April 29th. Berenberg Bank started coverage on shares of Boyd Gaming in a report on Thursday, May 12th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, Morgan Stanley cut shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $82.00 to $76.00 in a report on Monday, April 25th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $81.75.

Several hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC increased its stake in shares of Boyd Gaming by 38.0% during the first quarter. Verition Fund Management LLC now owns 21,223 shares of the company’s stock worth $1,396,000 after purchasing an additional 5,839 shares in the last quarter. Toroso Investments LLC purchased a new stake in shares of Boyd Gaming during the first quarter worth about $203,000. BNP Paribas Arbitrage SA increased its stake in shares of Boyd Gaming by 204.4% during the first quarter. BNP Paribas Arbitrage SA now owns 130,275 shares of the company’s stock worth $8,569,000 after purchasing an additional 87,480 shares in the last quarter. Penn Capital Management Company LLC boosted its position in Boyd Gaming by 2.3% during the first quarter. Penn Capital Management Company LLC now owns 136,298 shares of the company’s stock worth $9,263,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Boyd Gaming during the first quarter worth about $1,395,000. 70.27% of the stock is owned by institutional investors and hedge funds.

About Boyd Gaming (Get Rating)

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

Further Reading

Insider Buying and Selling by Quarter for Boyd Gaming (NYSE:BYD)

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