Keith Smith Sells 50,000 Shares of Boyd Gaming (NYSE:BYD) Stock

Boyd Gaming Corporation (NYSE:BYD) CEO Keith Smith sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $83.09, for a total transaction of $4,154,500.00. Following the transaction, the chief executive officer directly owned 1,096,689 shares in the company, valued at approximately $91,123,889.01. This represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Keith Smith also recently made the following trade(s):

• On Tuesday, August 19th, Keith Smith sold 25,000 shares of Boyd Gaming stock. The stock was sold at an average price of $83.91, for a total transaction of $2,097,750.00.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $83.45 on Thursday. Boyd Gaming Corporation has a 52 week low of $57.67 and a 52 week high of $87.76. The company’s 50 day moving average price is $81.32 and its two-hundred day moving average price is $74.71. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. The stock has a market cap of $6.69 billion, a P/E ratio of 12.84, a P/E/G ratio of 2.37 and a beta of 1.24.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $976.81 million. During the same quarter last year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming’s payout ratio is 11.08%.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in Boyd Gaming by 3.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,324,668 shares of the company’s stock valued at $103,629,000 after acquiring an additional 39,905 shares during the period. American Century Companies Inc. raised its holdings in Boyd Gaming by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock valued at $94,895,000 after acquiring an additional 127,167 shares during the period. First Trust Advisors LP raised its holdings in Boyd Gaming by 679.7% during the 2nd quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock valued at $87,842,000 after acquiring an additional 978,853 shares during the period. Victory Capital Management Inc. raised its holdings in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after acquiring an additional 122,822 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Boyd Gaming by 3.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,047,415 shares of the company’s stock valued at $81,939,000 after acquiring an additional 30,471 shares during the period. Institutional investors own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Macquarie increased their price objective on Boyd Gaming from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Susquehanna downgraded Boyd Gaming from a “positive” rating to a “neutral” rating and increased their price target for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. initiated coverage on Boyd Gaming in a research note on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target for the company. Mizuho lifted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Raymond James Financial lifted their price objective on Boyd Gaming from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, June 30th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.62.

About Boyd Gaming

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.