Insider Selling: Boyd Gaming (NYSE:BYD) CEO Sells $4,154,500.00 in Stock

Boyd Gaming Corporation (NYSE:BYD) CEO Keith Smith sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $83.09, for a total value of $4,154,500.00. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, August 22nd, Keith Smith sold 25,000 shares of Boyd Gaming stock. The shares were sold at an average price of $85.21, for a total value of $2,130,250.00.
• On Tuesday, August 19th, Keith Smith sold 25,000 shares of Boyd Gaming stock. The shares were sold at an average price of $83.91, for a total value of $2,097,750.00.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $85.5750 on Friday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 2.36 and a beta of 1.24. The firm’s 50 day simple moving average is $81.73 and its 200-day simple moving average is $74.81. Boyd Gaming Corporation has a 12 month low of $57.67 and a 12 month high of $87.76.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.20. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming’s dividend payout ratio is presently 11.08%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Susquehanna downgraded Boyd Gaming from a “positive” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Barclays raised their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Mizuho increased their price target on Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Raymond James Financial increased their price target on Boyd Gaming from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, June 30th. Finally, Stifel Nicolaus raised their target price on Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $86.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in shares of Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after purchasing an additional 135 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Boyd Gaming by 24.2% in the second quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock worth $75,000 after acquiring an additional 187 shares during the last quarter. Advisors Asset Management Inc. raised 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 worth $36,000 after acquiring an additional 196 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Boyd Gaming by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company’s stock worth $1,224,000 after acquiring an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Boyd Gaming by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company’s stock valued at $3,143,000 after purchasing an additional 205 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

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.