Boyd Gaming (NYSE:BYD) CFO Josh Hirsberg Sells 12,777 Shares of Stock

Boyd Gaming Corporation (NYSE:BYD) CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares in the company, valued at $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $91.10 on Wednesday. Boyd Gaming Corporation has a 52-week low of $76.33 and a 52-week high of $91.41. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The stock has a market cap of $6.77 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The business has a 50-day simple moving average of $86.29 and a 200-day simple moving average of $84.89.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 22.29% and a net margin of 44.34%.Boyd Gaming’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company earned $1.87 earnings per share. On average, equities analysts expect that Boyd Gaming Corporation will post 7.28 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.52%.

Boyd Gaming announced that its Board of Directors has approved a share repurchase program on Thursday, April 23rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Boyd Gaming by 23.0% in the 1st quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $54,000 after buying an additional 122 shares during the period. Assetmark Inc. increased its stake in Boyd Gaming by 9.1% during the first quarter. Assetmark Inc. now owns 1,553 shares of the company’s stock worth $128,000 after purchasing an additional 129 shares during the period. Optas LLC lifted its holdings in Boyd Gaming by 4.1% during the 1st quarter. Optas LLC now owns 3,486 shares of the company’s stock worth $286,000 after buying an additional 138 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in Boyd Gaming by 54.3% in the first quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after purchasing an additional 159 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in shares of Boyd Gaming by 24.5% in the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock valued at $73,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analyst Ratings Changes

BYD has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barclays increased their target price on shares of Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Finally, Mizuho set a $104.00 price objective on shares of Boyd Gaming in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming has an average rating of “Hold” and a consensus target price of $94.69.

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.