Boyd Gaming Corporation (NYSE:BYD) Director Robert L. Boughner sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total value of $1,068,000.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $1,068,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Boyd Gaming Corporation (NYSE BYD) opened at 26.09 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 6.89 and a beta of 1.92. Boyd Gaming Corporation has a 52 week low of $16.77 and a 52 week high of $27.00. The firm’s 50-day moving average price is $26.17 and its 200 day moving average price is $24.16.
Boyd Gaming Corporation (NYSE:BYD) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The firm had revenue of $599.87 million during the quarter, compared to analysts’ expectations of $602.39 million. During the same period in the prior year, the firm posted $0.16 earnings per share. Boyd Gaming Corporation’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts expect that Boyd Gaming Corporation will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio is currently 5.25%.
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BYD has been the topic of several recent research reports. Wells Fargo & Company restated a “market perform” rating and issued a $25.00 price target (up previously from $22.00) on shares of Boyd Gaming Corporation in a research note on Monday, June 19th. Telsey Advisory Group upped their price target on Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. BidaskClub downgraded Boyd Gaming Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Morgan Stanley downgraded Boyd Gaming Corporation from an “overweight” rating to an “equal weight” rating and set a $26.00 price target on the stock. in a research note on Tuesday, June 20th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “buy” rating and issued a $29.00 price target (down previously from $30.00) on shares of Boyd Gaming Corporation in a research note on Sunday, July 30th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $26.87.
Several institutional investors and hedge funds have recently made changes to their positions in BYD. BlackRock Inc. grew its holdings in shares of Boyd Gaming Corporation by 105,482.6% during the first quarter. BlackRock Inc. now owns 10,413,612 shares of the company’s stock valued at $229,205,000 after buying an additional 10,403,749 shares during the last quarter. FMR LLC grew its holdings in shares of Boyd Gaming Corporation by 531.0% during the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after buying an additional 1,193,874 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Boyd Gaming Corporation by 373.3% during the first quarter. Bank of America Corp DE now owns 1,482,567 shares of the company’s stock valued at $32,631,000 after buying an additional 1,169,330 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Boyd Gaming Corporation by 1,386.9% during the first quarter. Point72 Asset Management L.P. now owns 1,238,594 shares of the company’s stock valued at $27,261,000 after buying an additional 1,155,294 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Boyd Gaming Corporation during the second quarter valued at $26,973,000. 74.66% of the stock is currently owned by hedge funds and other institutional investors.
About Boyd Gaming Corporation
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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