Boyd Gaming Corporation (NYSE:BYD) Director William R. Boyd Sells 9,774 Shares

Key Points

• On August 12th, Boyd Gaming Director William R. Boyd sold 9,774 shares at an average price of $81.61, significantly reducing his stake by 39.16%.
• The company reported a quarterly earnings per share (EPS) of $1.87, exceeding analyst expectations of $1.67, with revenue of $1.03 billion, representing a 6.9% increase compared to the previous year.
• Analysts have updated their price targets for Boyd Gaming, with estimates ranging from $79.00 to $90.00, and a consensus rating of "Hold" with an average price target of $86.62.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) Director William R. Boyd sold 9,774 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total transaction of $797,656.14. Following the completion of the transaction, the director owned 15,188 shares in the company, valued at approximately $1,239,492.68. The trade was a 39.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Boyd Gaming Price Performance

NYSE BYD traded up $0.81 on Wednesday, hitting $84.21. The stock had a trading volume of 598,008 shares, compared to its average volume of 1,064,693. Boyd Gaming Corporation has a 52-week low of $55.91 and a 52-week high of $87.76. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The firm has a 50-day moving average of $80.20 and a 200-day moving average of $74.41.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 EPS. Equities analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BYD. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. began coverage on shares of Boyd Gaming in a research note on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target on the stock. Mizuho upped their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Raymond James Financial upped their price target on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Barclays upped their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of "Hold" and an average price target of $86.62.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently made changes to their positions in BYD. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company's stock worth $29,000 after buying an additional 255 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock worth $36,000 after buying an additional 196 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Boyd Gaming in the 2nd quarter worth $39,000. CoreCap Advisors LLC increased its holdings in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after buying an additional 313 shares during the last quarter. Institutional investors own 76.81% of the company's stock.

About Boyd Gaming

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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