Christine J. Spadafor Sells 1,874 Shares of Boyd Gaming Co. (NYSE:BYD) Stock

Boyd Gaming Co. (NYSE:BYDGet Free Report) Director Christine J. Spadafor sold 1,874 shares of Boyd Gaming stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total value of $100,034.12. Following the completion of the transaction, the director now owns 2,338 shares of the company’s stock, valued at approximately $124,802.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Boyd Gaming Trading Up 0.5 %

BYD stock traded up $0.24 during midday trading on Wednesday, hitting $50.60. 1,240,552 shares of the company’s stock were exchanged, compared to its average volume of 883,296. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $73.00. The stock’s fifty day moving average price is $59.79 and its 200-day moving average price is $61.43. The company has a market cap of $4.80 billion, a PE ratio of 8.88 and a beta of 1.64. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.77 and a current ratio of 0.80.

Boyd Gaming (NYSE:BYDGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The business had revenue of $960.52 million for the quarter, compared to the consensus estimate of $947.26 million. Research analysts predict that Boyd Gaming Co. will post 6.06 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Saturday, June 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming’s dividend payout ratio is 12.21%.

Boyd Gaming declared that its Board of Directors has authorized a share buyback program on Monday, May 13th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the company. Boston Partners boosted its position in shares of Boyd Gaming by 10.0% during the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after buying an additional 274,876 shares during the period. Burney Co. boosted its position in Boyd Gaming by 427.8% during the first quarter. Burney Co. now owns 67,676 shares of the company’s stock valued at $4,556,000 after purchasing an additional 54,854 shares during the last quarter. Beck Bode LLC bought a new stake in shares of Boyd Gaming during the 1st quarter worth approximately $15,985,000. Comerica Bank boosted its holdings in shares of Boyd Gaming by 103.1% in the 1st quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after buying an additional 21,772 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in Boyd Gaming by 5.7% during the first quarter. Tidal Investments LLC now owns 11,578 shares of the company’s stock worth $779,000 after buying an additional 627 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and cut their price target for the company from $78.00 to $71.00 in a report on Friday, April 26th. Barclays reduced their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Argus cut Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Truist Financial cut their price target on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Stifel Nicolaus dropped their price objective on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating for the company in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.42.

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Boyd Gaming Company Profile

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Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.

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