Boyd Gaming Corporation (NYSE:BYD) COO Sells $1,372,220.46 in Stock

Key Points

• Boyd Gaming COO Ted Bogich sold 16,497 shares for a total of $1,372,220.46, reducing his ownership by 26.78% to approximately 45,116 shares.
• The company reported $1.87 earnings per share for the last quarter, surpassing analyst expectations of $1.67, with revenue of $1.03 billion.
• Boyd Gaming recently declared a quarterly dividend of $0.18 per share, resulting in an annualized yield of 0.9%.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) COO Ted Bogich sold 16,497 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the sale, the chief operating officer owned 45,116 shares in the company, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $0.19 during midday trading on Monday, reaching $83.46. 1,363,839 shares of the company traded hands, compared to its average volume of 1,060,871. Boyd Gaming Corporation has a 52 week low of $52.76 and a 52 week high of $87.76. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 2.83 and a beta of 1.24. The stock has a 50-day moving average price of $79.07 and a 200 day moving average price of $74.05. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. Boyd Gaming's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. Sell-side analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming's dividend payout ratio (DPR) is currently 11.08%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and upped their price objective for the company from $76.00 to $86.00 in a report on Friday, July 11th. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Truist Financial raised their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Finally, Barclays increased their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $86.62.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BYD. Raymond James Financial Inc. bought a new position in shares of Boyd Gaming during the 4th quarter worth about $43,273,000. Jacobs Levy Equity Management Inc. bought a new stake in Boyd Gaming during the 1st quarter worth approximately $8,976,000. Seven Six Capital Management LLC acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at $9,162,000. Victory Capital Management Inc. raised its stake in shares of Boyd Gaming by 13.3% in the first quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock worth $69,036,000 after acquiring an additional 122,822 shares during the last quarter. Finally, J. Goldman & Co LP bought a new position in Boyd Gaming in the 4th quarter valued at $8,359,000. Institutional investors own 76.81% of the company's stock.

Boyd Gaming Company Profile

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.

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