Insider Selling: Boyd Gaming (NYSE:BYD) CFO Sells $2,054,114.64 in Stock

Boyd Gaming Corporation (NYSE:BYD) CFO Josh Hirsberg sold 23,924 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the transaction, the chief financial officer owned 435,746 shares in the company, valued at approximately $37,413,151.56. This trade represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boyd Gaming Price Performance

Shares of BYD opened at $82.18 on Thursday. The firm has a fifty day simple moving average of $85.08 and a two-hundred day simple moving average of $83.84. The firm has a market cap of $6.20 billion, a PE ratio of 3.61, a P/E/G ratio of 1.71 and a beta of 1.20. 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 Corporation has a 1-year low of $58.94 and a 1-year high of $89.96.

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

Boyd Gaming Increases Dividend

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

Wall Street Analyst Weigh In

BYD has been the subject of several recent research reports. Jefferies Financial Group restated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Wells Fargo & Company lowered their target price on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Monday, February 9th. Finally, UBS Group set a $110.00 price target on Boyd Gaming in a research report on Wednesday, December 24th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.58.

Institutional Investors Weigh In On Boyd Gaming

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Boyd Gaming during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after acquiring an additional 255 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Boyd Gaming in the second quarter worth $39,000. 76.81% of the stock is owned by institutional investors.

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.