Josh Hirsberg Sells 23,924 Shares of Boyd Gaming (NYSE:BYD) Stock

Boyd Gaming Corporation (NYSE:BYD) CFO Josh Hirsberg sold 23,924 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the transaction, the chief financial officer owned 435,746 shares in the company, valued at approximately $37,413,151.56. The trade was a 5.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Boyd Gaming Stock Down 1.5%

Shares of NYSE BYD opened at $81.29 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52. The company has a 50-day moving average price of $85.15 and a 200-day moving average price of $83.85. The stock has a market capitalization of $6.14 billion, a P/E ratio of 3.57, a P/E/G ratio of 1.74 and a beta of 1.20. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $89.96.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. On average, equities research analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a $0.20 dividend. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, March 16th. Boyd Gaming’s dividend payout ratio is 3.16%.

Analyst Ratings Changes

A number of equities research analysts recently commented on BYD shares. Wells Fargo & Company lowered their price target on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Monday, February 9th. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. UBS Group set a $110.00 price target on shares of Boyd Gaming in a report on Wednesday, December 24th. Finally, Citigroup assumed coverage on shares of Boyd Gaming in a research note on Thursday, November 20th. They issued a “neutral” rating and a $86.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.58.

Institutional Trading of Boyd Gaming

A number of large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in Boyd Gaming in the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new position in Boyd Gaming in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Boyd Gaming by 219.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after purchasing an additional 255 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Boyd Gaming in the second quarter worth $39,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

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.