Boyd Gaming Corporation (NYSE:BYD) Chairman Marianne Boyd Johnson Sells 100,000 Shares

Key Points

• Marianne Boyd Johnson, Chairman of Boyd Gaming, sold 100,000 shares at an average price of $84.17, totaling $8,417,000, which decreased her ownership by 6.23%.
• Boyd Gaming recently announced a quarterly dividend of $0.18 per share, representing an annual yield of 0.9%, to be paid on October 15th.
• The company reported a net revenue of $1.03 billion for the last quarter, exceeding analyst estimates and showing a 6.9% increase compared to the previous year.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) Chairman Marianne Boyd Johnson sold 100,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the completion of the transaction, the chairman directly owned 1,504,379 shares in the company, valued at approximately $126,623,580.43. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Boyd Gaming Stock Up 1.1%

Boyd Gaming stock traded up $0.88 on Tuesday, hitting $83.97. 99,977 shares of the stock traded hands, compared to its average volume of 1,060,192. Boyd Gaming Corporation has a 1 year low of $57.67 and a 1 year high of $87.76. The business's fifty day simple moving average is $80.98 and its 200 day simple moving average is $74.58. The firm has a market cap of $6.73 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 2.34 and a beta of 1.24. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its 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. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. During the same quarter in the prior year, the company earned $1.58 earnings per share. Boyd Gaming's revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, September 15th. Boyd Gaming's payout ratio is currently 11.08%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BYD shares. JPMorgan Chase & Co. started coverage on Boyd Gaming in a research report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target on the stock. Barclays raised their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Susquehanna cut Boyd Gaming from a "positive" rating to a "neutral" rating and raised their price target for the company from $76.00 to $86.00 in a report on Friday, July 11th. Finally, Mizuho boosted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming presently has a consensus rating of "Hold" and an average price target of $86.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BYD. Arrowstreet Capital Limited Partnership raised its position in Boyd Gaming by 3.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,324,668 shares of the company's stock worth $103,629,000 after purchasing an additional 39,905 shares during the period. American Century Companies Inc. boosted its position in Boyd Gaming by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company's stock valued at $94,895,000 after acquiring an additional 127,167 shares in the last quarter. First Trust Advisors LP raised its holdings in Boyd Gaming by 679.7% in the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company's stock worth $87,842,000 after purchasing an additional 978,853 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Boyd Gaming by 13.3% in the first quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock valued at $69,036,000 after acquiring an additional 122,822 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Boyd Gaming by 3.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,047,415 shares of the company's stock valued at $81,939,000 after buying an additional 30,471 shares in 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.