Insider Selling: Boyd Gaming (NYSE:BYD) Director Sells $2,545,200.00 in Stock

Boyd Gaming Corporation (NYSE:BYD) Director William Boyd sold 30,000 shares of the 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 sale, the director owned 1,930,447 shares of the company’s stock, valued at approximately $163,779,123.48. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Boyd Gaming Trading Up 1.4%

NYSE BYD opened at $86.25 on Friday. The firm’s fifty day moving average is $85.36 and its two-hundred day moving average is $83.79. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $89.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The firm has a market cap of $6.74 billion, a PE ratio of 3.79, a P/E/G ratio of 1.82 and a beta of 1.24.

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

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.20 per share. 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 is Monday, March 16th. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BYD shares. Jefferies Financial Group restated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Mizuho set a $100.00 price target on shares of Boyd Gaming in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Truist Financial set a $110.00 price objective on Boyd Gaming in a report on Tuesday, January 13th. Finally, Morgan Stanley set a $86.00 target price on Boyd Gaming in a research note on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Boyd Gaming has an average rating of “Hold” and an average price target of $92.58.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. purchased a new stake in shares of Boyd Gaming in the 3rd quarter worth about $1,531,000. Allianz Asset Management GmbH increased its stake in shares of Boyd Gaming by 174.3% during 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 in the last quarter. LSV Asset Management raised its position in shares of Boyd Gaming by 115.8% during the 2nd 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. Fox Run Management L.L.C. purchased a new stake in Boyd Gaming in the 2nd quarter valued at approximately $563,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Boyd Gaming by 9.9% during the 3rd 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 last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.