Stephen S. Thompson Sells 15,906 Shares of Boyd Gaming Corporation (NYSE:BYD) Stock

Key Points

• Stephen S. Thompson, an insider at Boyd Gaming Corporation, sold 15,906 shares for approximately $1.32 million, decreasing his position by 29.18%.
• Boyd Gaming reported $1.87 earnings per share for the last quarter, exceeding estimates of $1.67, along with a revenue increase of 6.9% year-over-year.
• The company recently announced a quarterly dividend of $0.18 per share, resulting in an annualized yield of 0.9% and a payout ratio of 11.08%.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) insider Stephen S. Thompson sold 15,906 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.25, for a total value of $1,324,174.50. Following the completion of the sale, the insider directly owned 38,609 shares of the company's stock, valued at approximately $3,214,199.25. This trade represents a 29.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Boyd Gaming Price Performance

BYD traded down $0.19 during trading on Monday, hitting $83.46. 1,363,839 shares of the stock traded hands, compared to its average volume of 1,060,871. 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 Corporation has a twelve month low of $52.76 and a twelve month 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 business has a 50 day moving average price of $79.07 and a 200 day moving average price of $74.05.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $976.81 million. During the same period last year, the company earned $1.58 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on BYD. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Mizuho raised 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. Truist Financial upped their price objective on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Macquarie boosted their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Susquehanna lowered Boyd Gaming from a "positive" rating to a "neutral" rating and upped their target price for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Boyd Gaming currently has a consensus rating of "Hold" and a consensus price target of $86.62.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new position in shares of Boyd Gaming during the 1st quarter worth $598,000. Raymond James Financial Inc. purchased a new position in shares of Boyd Gaming during the 4th quarter valued at about $43,273,000. Bank of New York Mellon Corp lifted its stake in shares of Boyd Gaming by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock valued at $45,587,000 after acquiring an additional 7,400 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Boyd Gaming in the first quarter worth about $1,963,000. Finally, SG Americas Securities LLC purchased a new position in Boyd Gaming during the 1st quarter valued at $805,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

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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