Insider Selling: Boyd Gaming Co. (NYSE:BYD) CEO Sells 70,000 Shares of Stock

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 70,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $35.88, for a total value of $2,511,600.00. Following the sale, the chief executive officer now owns 1,202,714 shares in the company, valued at $43,153,378.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Boyd Gaming stock traded down $1.10 during trading on Monday, reaching $30.76. 1,128,531 shares of the stock traded hands, compared to its average volume of 1,728,236. The firm has a market cap of $3,584.50, a price-to-earnings ratio of 29.86 and a beta of 1.87. Boyd Gaming Co. has a 52-week low of $21.30 and a 52-week high of $40.44. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 2.77.

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Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.04). The company had revenue of $590.83 million during the quarter, compared to analysts’ expectations of $595.28 million. Boyd Gaming had a return on equity of 11.47% and a net margin of 7.94%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. equities analysts expect that Boyd Gaming Co. will post 1.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.05. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.85%. Boyd Gaming’s payout ratio is 19.42%.

A number of large investors have recently bought and sold shares of BYD. Strs Ohio boosted its holdings in Boyd Gaming by 177.8% in the fourth quarter. Strs Ohio now owns 5,000 shares of the company’s stock valued at $175,000 after purchasing an additional 3,200 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Boyd Gaming in the fourth quarter worth about $183,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Boyd Gaming by 33.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,559 shares of the company’s stock worth $195,000 after acquiring an additional 1,392 shares during the period. Creative Planning acquired a new position in shares of Boyd Gaming during the 4th quarter worth about $206,000. Finally, Miles Capital Inc. acquired a new position in shares of Boyd Gaming during the 4th quarter worth about $213,000. 74.77% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on BYD shares. Deutsche Bank upped their price objective on Boyd Gaming to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Zacks Investment Research lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Boyd Gaming in a research report on Thursday, December 21st. Nomura upped their price target on Boyd Gaming to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, Barclays restated an “equal weight” rating and issued a $33.00 price target (down previously from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.81.

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About Boyd Gaming

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

Insider Buying and Selling by Quarter for Boyd Gaming (NYSE:BYD)

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