Boyd Gaming Co. (NYSE: BYD – Get a rating) insider Marianne Boyd Johnson sold 64,690 shares of the company in a transaction that took place on Wednesday, May 25. The stock was sold at an average price of $54.95, for a total transaction of $3,554,715.50. Following the transaction, the insider now directly owns 77,623 shares of the company, valued at $4,265,383.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website.
Action Boyd Gaming traded down $0.19 during Friday’s midday session, hitting $59.33. The company had a trading volume of 910,299 shares, compared to an average volume of 1,166,899. Boyd Gaming Co. has a fifty-two week low of $50.38 and a fifty-two week high of 72, $72. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt ratio of 1.93. The company has a market capitalization of $6.50 billion, a P/E ratio of 12.84 and a beta of 1.90. The company has a fifty-day simple moving average of $61.47 and a 200-day simple moving average of $62.71.
Boyd Gaming (NYSE: BYD – Get a rating) last released its quarterly results on Tuesday, April 26. The company reported earnings per share (EPS) of $1.40 for the quarter, beating the consensus estimate of $1.24 by $0.16. The company posted revenue of $860.74 million in the quarter, versus a consensus estimate of $836.15 million. Boyd Gaming had a net margin of 15.09% and a return on equity of 42.72%. In the same quarter last year, the company earned $0.93 per share. Research analysts expect Boyd Gaming Co. to post EPS of 5.47 for the current year.
The company also recently declared a variable dividend, which was paid on Wednesday, April 27. Shareholders of record on Thursday, March 31 received a dividend of $0.144 per share. The ex-dividend date was Wednesday, March 30. Boyd Gaming’s current payout rate is 6.28%.
Hedge funds have recently increased or reduced their stakes in the company. Whittier Trust Co. bought a new position in shares of Boyd Gaming during the first quarter worth $27,000. Prospera Financial Services Inc bought a new position in shares of Boyd Gaming during the first quarter worth $33,000. Byrne Asset Management LLC bought a new position in shares of Boyd Gaming during the fourth quarter worth $34,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Boyd Gaming during the third quarter worth $40,000. Finally, Quent Capital LLC bought a new position in Boyd Gaming during the fourth quarter worth $45,000. 70.27% of the shares are held by hedge funds and other institutional investors.
Several analysts have recently released reports on BYD shares. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong buy” rating in a Friday, April 29 research report. Berenberg Bank began covering Boyd Gaming shares in a research report on Thursday, May 12. They have set a “buy” rating and a price target of $78.00 on the stock. Susquehanna raised its price target on shares of Boyd Gaming from $74.00 to $79.00 in a Wednesday, April 27 research report. Morgan Stanley downgraded shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and lowered its price target for the stock from $82.00 to $76.00 in a research report from the Monday, April 25. Finally, Susquehanna Bancshares upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and raised its price target for the stock from $73.00 to $74.00 in a report of search of Tuesday, April 26. One analyst rated the stock with a hold rating, seven gave a buy rating and two gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, Boyd Gaming has an average rating of “Buy” and a consensus price target of $81.75.
Boyd Gaming Company Profile (Get a 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.
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