Boyd Gaming Co. (NYSE:BYD) insider Stephen S. Thompson sold 24,906 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $33.55, for a total transaction of $835,596.30. Following the sale, the insider now owns 53,354 shares in the company, valued at $1,790,026.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Boyd Gaming Co. (BYD) traded up $0.09 on Friday, hitting $33.20. 1,432,157 shares of the stock traded hands, compared to its average volume of 1,793,676. The company has a market cap of $3,809.52, a PE ratio of 20.24 and a beta of 1.92. Boyd Gaming Co. has a one year low of $19.66 and a one year high of $40.44. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 2.77.
Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.04). Boyd Gaming had a return on equity of 11.47% and a net margin of 7.94%. The business had revenue of $590.83 million for the quarter, compared to the consensus estimate of $595.28 million. During the same period in the prior year, the business earned $0.38 earnings per share. Boyd Gaming’s revenue was up 6.5% compared to the same quarter last year. equities research analysts forecast that Boyd Gaming Co. will post 1.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Friday, March 16th will be paid a $0.45 dividend. The ex-dividend date is Thursday, March 15th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.05. This represents a $1.80 annualized dividend and a dividend yield of 5.42%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.20%.
Several large investors have recently added to or reduced their stakes in BYD. Point72 Asset Management L.P. grew its stake in shares of Boyd Gaming by 34.9% in the third quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock valued at $118,959,000 after buying an additional 1,181,986 shares in the last quarter. Millennium Management LLC grew its stake in shares of Boyd Gaming by 108.7% in the fourth quarter. Millennium Management LLC now owns 1,441,205 shares of the company’s stock valued at $50,514,000 after buying an additional 750,610 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Boyd Gaming by 218.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 706,370 shares of the company’s stock valued at $24,758,000 after buying an additional 484,247 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Boyd Gaming during the third quarter worth $11,723,000. Finally, Two Sigma Advisers LP boosted its position in Boyd Gaming by 1,249.8% during the fourth quarter. Two Sigma Advisers LP now owns 417,532 shares of the company’s stock worth $14,634,000 after purchasing an additional 386,600 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Telsey Advisory Group assumed coverage on shares of Boyd Gaming in a report on Tuesday. They set a “market perform” rating and a $36.00 target price on the stock. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, January 9th. Bank of America raised shares of Boyd Gaming from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday, January 5th. ValuEngine raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Boyd Gaming in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.81.
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About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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