Stephen Thompson Sells 19,530 Shares of Boyd Gaming (NYSE:BYD) Stock

Boyd Gaming Corporation (NYSE:BYD) insider Stephen Thompson sold 19,530 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the sale, the insider directly owned 22,009 shares in the company, valued at approximately $1,839,732.31. The trade was a 47.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Boyd Gaming Stock Performance

NYSE:BYD traded down $0.70 on Monday, hitting $82.53. The company’s stock had a trading volume of 1,011,507 shares, compared to its average volume of 985,192. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $89.96. The firm has a market capitalization of $6.23 billion, a P/E ratio of 3.63, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. The stock has a fifty day moving average of $85.23 and a two-hundred day moving average of $83.86. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, March 16th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.16%.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently added to or reduced their stakes in BYD. Asset Management One Co. Ltd. bought a new position in Boyd Gaming in the third quarter valued at about $1,531,000. Envestnet Asset Management Inc. increased its stake in shares of Boyd Gaming by 78.3% in the third quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company’s stock valued at $11,005,000 after buying an additional 55,923 shares during the period. Allianz Asset Management GmbH raised its holdings in Boyd Gaming by 174.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock valued at $23,701,000 after buying an additional 174,214 shares during the last quarter. LSV Asset Management boosted its position in 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 buying an additional 131,500 shares during the period. Finally, Citigroup Inc. boosted its position in Boyd Gaming by 94.8% during the 3rd quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock worth $19,868,000 after buying an additional 111,815 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BYD has been the topic of a number of analyst reports. Mizuho set a $100.00 price target on Boyd Gaming in a research report on Monday, February 2nd. Susquehanna reduced their target price on Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Wells Fargo & Company dropped their price target on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday, February 9th. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a research report on Wednesday, February 11th. Finally, UBS Group set a $110.00 price objective on shares of Boyd Gaming in a research note on Wednesday, December 24th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $92.58.

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.