Boyd Gaming (NYSE:BYD) Chairman Marianne Boyd Johnson Sells 62,914 Shares

Boyd Gaming Corporation (NYSE:BYD) Chairman Marianne Boyd Johnson sold 62,914 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the transaction, the chairman owned 1,609,808 shares in the company, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Marianne Boyd Johnson also recently made the following trade(s):

• On Friday, May 1st, Marianne Boyd Johnson sold 37,086 shares of Boyd Gaming stock. The shares were sold at an average price of $85.27, for a total transaction of $3,162,323.22.

Boyd Gaming Trading Up 1.4%

Boyd Gaming stock opened at $84.06 on Wednesday. The company’s fifty day simple moving average is $84.03 and its 200-day simple moving average is $83.60. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. Boyd Gaming Corporation has a 12 month low of $68.98 and a 12 month high of $89.96. The stock has a market cap of $6.25 billion, a P/E ratio of 3.69, a P/E/G ratio of 1.89 and a beta of 1.11.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.16). Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The company had revenue of $997.36 million for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that Boyd Gaming Corporation will post 7.41 EPS for the current fiscal year.

Boyd Gaming announced that its board has initiated a stock repurchase plan on Thursday, April 23rd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, March 16th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BYD shares. Mizuho reduced their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Boyd Gaming from $89.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Susquehanna reduced their price objective on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Company reduced their price objective on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Finally, Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a research note on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in Boyd Gaming by 18.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock worth $149,652,000 after acquiring an additional 277,529 shares during the last quarter. Invesco Ltd. lifted its position in Boyd Gaming by 118.2% during the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock worth $121,708,000 after acquiring an additional 773,394 shares during the last quarter. Franklin Resources Inc. lifted its position in Boyd Gaming by 11.1% during the 4th quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock worth $115,706,000 after acquiring an additional 136,129 shares during the last quarter. Geode Capital Management LLC lifted its position in Boyd Gaming by 26.7% during the 4th quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock worth $115,537,000 after acquiring an additional 285,719 shares during the last quarter. Finally, Nuveen LLC lifted its position in Boyd Gaming by 10.6% during the 4th quarter. Nuveen LLC now owns 1,080,331 shares of the company’s stock worth $92,087,000 after acquiring an additional 103,684 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

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.