Boyd Gaming (BYD) Stock Price Up 6%

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Boyd Gaming Co. (NYSE:BYD) rose 6% during trading on Wednesday . The company traded as high as $26.94 and last traded at $26.56. Approximately 2,361,528 shares were traded during trading, an increase of 71% from the average daily volume of 1,378,528 shares. The stock had previously closed at $25.06.

BYD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Jefferies Financial Group set a $42.00 price objective on shares of Boyd Gaming and gave the stock a “hold” rating in a report on Friday, July 27th. ValuEngine lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Bank of America restated a “buy” rating and issued a $37.00 price objective on shares of Boyd Gaming in a report on Tuesday, October 16th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.67.

The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.99 and a current ratio of 2.03. The firm has a market capitalization of $2.92 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Boyd Gaming had a net margin of 7.19% and a return on equity of 12.59%. The business had revenue of $612.20 million during the quarter, compared to analyst estimates of $607.60 million. Equities analysts forecast that Boyd Gaming Co. will post 1.34 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.90%. Boyd Gaming’s dividend payout ratio (DPR) is presently 23.30%.

In other news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.00, for a total value of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares of the company’s stock, valued at approximately $810,411. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marianne Boyd Johnson sold 26,493 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $36.41, for a total transaction of $964,610.13. Following the completion of the sale, the insider now directly owns 231,173 shares in the company, valued at $8,417,008.93. The disclosure for this sale can be found here. Insiders sold a total of 67,000 shares of company stock worth $2,428,514 over the last ninety days. Insiders own 28.88% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of Boyd Gaming by 11.5% in the 2nd quarter. Amalgamated Bank now owns 13,302 shares of the company’s stock worth $461,000 after buying an additional 1,374 shares during the period. Arizona State Retirement System grew its position in Boyd Gaming by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 57,039 shares of the company’s stock valued at $1,977,000 after purchasing an additional 1,433 shares during the last quarter. Buckley Wealth Management LLC grew its position in Boyd Gaming by 7.6% during the 2nd quarter. Buckley Wealth Management LLC now owns 21,188 shares of the company’s stock valued at $734,000 after purchasing an additional 1,500 shares during the last quarter. United Services Automobile Association grew its position in Boyd Gaming by 13.8% during the 2nd quarter. United Services Automobile Association now owns 17,577 shares of the company’s stock valued at $609,000 after purchasing an additional 2,135 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Boyd Gaming by 6.7% during the 2nd quarter. SG Americas Securities LLC now owns 40,156 shares of the company’s stock valued at $1,392,000 after purchasing an additional 2,505 shares during the last quarter. 71.97% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Company Profile (NYSE:BYD)

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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