Insider Selling: Boyd Gaming Co. (NYSE:BYD) CFO Sells 21,549 Shares of Stock

Boyd Gaming Co. (NYSE:BYD) CFO Josh Hirsberg sold 21,549 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the sale, the chief financial officer now owns 438,615 shares of the company’s stock, valued at $31,330,269.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Boyd Gaming Stock Up 1.1 %

Shares of BYD traded up $0.79 during mid-day trading on Thursday, hitting $72.40. 898,468 shares of the company traded hands, compared to its average volume of 926,465. The company has a market capitalization of $6.40 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 8.92 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The business has a 50 day moving average of $64.14 and a 200 day moving average of $58.73. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $73.35.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is 12.98%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Mizuho reissued an “outperform” rating and set a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Barclays boosted their price objective on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their target price on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYD. Victory Capital Management Inc. boosted its holdings in Boyd Gaming by 6,158.8% during the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after buying an additional 894,383 shares in the last quarter. Long Pond Capital LP acquired a new stake in Boyd Gaming in the 2nd quarter valued at about $20,440,000. Ariel Investments LLC grew its holdings in Boyd Gaming by 12.5% in the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares in the last quarter. Boston Partners grew its stake in shares of Boyd Gaming by 10.0% in the 1st quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after buying an additional 274,876 shares during the period. Finally, Beck Bode LLC acquired a new position in shares of Boyd Gaming in the 1st quarter valued at $15,985,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.