Boyd Gaming Co. (NYSE:BYD) CEO Sells $6,085,248.75 in Stock

Boyd Gaming Co. (NYSE:BYDGet Rating) CEO Keith Smith sold 101,675 shares of Boyd Gaming stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $59.85, for a total transaction of $6,085,248.75. Following the transaction, the chief executive officer now directly owns 1,261,362 shares in the company, valued at approximately $75,492,515.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

NYSE:BYD traded down $0.62 during mid-day trading on Wednesday, reaching $59.81. The stock had a trading volume of 739,121 shares, compared to its average volume of 1,158,830. 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 one year low of $50.38 and a one year high of $72.72. The firm has a 50 day moving average price of $60.01 and a two-hundred day moving average price of $62.59. The stock has a market capitalization of $6.55 billion, a P/E ratio of 13.08 and a beta of 1.90.

Boyd Gaming (NYSE:BYDGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.16. Boyd Gaming had a return on equity of 42.72% and a net margin of 15.09%. The firm had revenue of $860.74 million for the quarter, compared to the consensus estimate of $836.15 million. During the same period in the prior year, the company posted $0.93 earnings per share. Research analysts forecast that Boyd Gaming Co. will post 5.47 earnings per share for the current year.

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

Several large investors have recently made changes to their positions in BYD. Morgan Stanley boosted its position in Boyd Gaming by 48.0% during the second quarter. Morgan Stanley now owns 1,085,457 shares of the company’s stock worth $66,745,000 after purchasing an additional 352,181 shares in the last quarter. American Century Companies Inc. boosted its holdings in Boyd Gaming by 19.6% in the third quarter. American Century Companies Inc. now owns 6,650 shares of the company’s stock valued at $421,000 after purchasing an additional 1,091 shares during the last quarter. Credit Suisse AG boosted its holdings in Boyd Gaming by 5.5% in the third quarter. Credit Suisse AG now owns 83,538 shares of the company’s stock valued at $5,284,000 after purchasing an additional 4,370 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Boyd Gaming by 6.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 94,998 shares of the company’s stock worth $6,010,000 after buying an additional 5,953 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Boyd Gaming by 33.9% during the 3rd quarter. Macquarie Group Ltd. now owns 5,038 shares of the company’s stock worth $318,000 after buying an additional 1,275 shares during the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.

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

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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