Boyd Gaming (NYSE:BYD) Chairman Marianne Boyd Johnson Sells 37,086 Shares of Stock

Boyd Gaming Corporation (NYSE:BYD) Chairman Marianne Boyd Johnson sold 37,086 shares of Boyd Gaming stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $85.27, for a total value of $3,162,323.22. Following the transaction, the chairman owned 1,672,722 shares of the company’s stock, valued at $142,633,004.94. This represents a 2.17% 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.

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

• On Tuesday, May 5th, Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $84.06 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.58 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 50 day moving average of $84.03 and a 200-day moving average of $83.60. The company has a market capitalization 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 released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.16). The firm had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Boyd Gaming Corporation will post 7.41 EPS for the current year.

Boyd Gaming Increases Dividend

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

Boyd Gaming announced that its board has initiated a stock buyback plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in Boyd Gaming during the fourth quarter worth approximately $25,000. First Horizon Corp acquired a new stake in Boyd Gaming during the fourth quarter worth approximately $41,000. Advisors Asset Management Inc. grew its stake in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the period. Finally, Employees Retirement System of Texas acquired a new stake in Boyd Gaming during the third quarter worth approximately $53,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BYD. Barclays cut their target price on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 24th. Stifel Nicolaus cut their target price on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a research report on Friday, April 24th. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $89.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Susquehanna cut their target price on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Mizuho lowered their price target on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Hold” and a consensus price target of $92.08.

About Boyd Gaming

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.