Boyd Gaming Co. (NYSE:BYD – Get Free Report) CFO Josh Hirsberg sold 22,654 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $64.75, for a total transaction of $1,466,846.50. Following the closing, the chief financial officer will now own 415,184 shares of the company’s stock, valued at approximately $26,883,164. The sale was disclosed in his SEC filing, available at this link.
Boyd Gaming stock falls 1.9%
BYD opened at $64.87 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89, and a quick ratio of 0.77. Boyd Gaming Co. has a 12 month low of $52.42 and a 12 month high of $73.00. The stock has a market capitalization of $6.23 billion, a P/E ratio of 10.63x, a P/E ratio of 2.96x, and a beta of 1.61x. His 50 day simple moving average for this company is $63.63 and his 200 day simple moving average is $61.86.
Boyd Gaming (NYSE:BYD – Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net profit margin of 16.58%. Boyd Gaming’s quarterly revenue increased 3.4% compared to the year-ago period. In the same period last year, the company’s earnings per share were $1.72. On average, equity analysts expect Boyd Gaming, Inc. to post earnings per share of $6.19 for the current fiscal year.
Boyd Gaming increases dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend will be March 14th (Thursday). This equates to a dividend of $0.68 and a yield of 1.05% on an annualized basis. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is currently 10.49%.
Analyst upgrades and downgrades
BYD has been featured in several research reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $69.00 price target on shares of Boyd Gaming in a report on Friday, January 5th. Wells Fargo & Company increased their target price on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Susquehanna reaffirmed a “neutral” rating and set a target price on shares of Boyd Gaming at $75.00 (down from $84.00) in a report on Monday, February 12th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Finally, Barclays increased their target price on Boyd Gaming from $66.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Four analysts have rated the stock as a “hold” and six have rated it a “buy”. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.78.
Read the latest stock analysis for BYD
Inflow and outflow of institutions
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its position in shares of Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares during the period. Rakuten Securities Inc. acquired a new position in Boyd Gaming during the 4th quarter valued at $30,000. Belpointe Asset Management LLC grew its position in Boyd Gaming by 237.6% in the 1st quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after purchasing an additional 461 shares in the last quarter. Principal Securities Inc. acquired a new stake in Boyd Gaming in the 4th quarter worth his $50,000. Finally, Quarry LP increased its position in shares of Boyd Gaming by 130.3% in the 1st quarter. Quarry LP now owns 822 shares of the company’s stock valued at $53,000 after purchasing an additional 465 shares in the last quarter. Institutional investors and hedge funds currently hold 67.98% of the stock.
About Void Gaming
(Get Free Report)
Boyd Gaming Corporation, along with its subsidiaries, operates as a multijurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through its Las Vegas Locals, Downtown Las Vegas, Midwest and South, and Online segments.
References
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