Boyd Gaming Corporation (NYSE:BYD) Receives Average Rating of “Hold” from Analysts

Boyd Gaming Corporation (NYSE:BYD) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $92.0833.

Several equities analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of Boyd Gaming in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $85.00 price objective on the stock. Macquarie restated a “neutral” rating and set a $90.00 price target on shares of Boyd Gaming in a research note on Friday, October 24th. Truist Financial set a $110.00 price target on Boyd Gaming in a research report on Tuesday, January 13th. Mizuho set a $100.00 price objective on Boyd Gaming in a research note on Monday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Boyd Gaming in a research note on Wednesday, December 24th.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the director directly owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Several institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its stake in shares of Boyd Gaming by 11.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,478,130 shares of the company’s stock valued at $127,784,000 after acquiring an additional 153,462 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Boyd Gaming by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,221,283 shares of the company’s stock worth $105,580,000 after buying an additional 173,868 shares during the period. American Century Companies Inc. raised its holdings in Boyd Gaming by 11.7% in the second quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock valued at $94,895,000 after acquiring an additional 127,167 shares in the last quarter. First Trust Advisors LP lifted its stake in Boyd Gaming by 679.7% in the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock worth $87,842,000 after acquiring an additional 978,853 shares during the last quarter. Finally, Norges Bank purchased a new position in Boyd Gaming in the second quarter worth approximately $54,933,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

NYSE BYD opened at $84.80 on Thursday. The stock has a fifty day simple moving average of $85.03 and a 200-day simple moving average of $83.83. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.62 billion, a PE ratio of 3.71, a P/E/G ratio of 1.47 and a beta of 1.24. Boyd Gaming has a twelve month low of $58.94 and a twelve month high of $89.96.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.15%.

Boyd Gaming Company Profile

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.