Boyd Gaming Director Sells $1.7 Million in Stock

On October 31st, William R. Boyd, a director at Boyd Gaming Co. (NYSE:BYD), completed a significant stock transaction. He sold 25,155 shares of the company's stock at an average price of $69.35 per share. This sale resulted in a total value of approximately $1,744,499.25. After the transaction, Boyd now holds a total of 1,487,970 shares, which are valued at around $103,190,719.50. The sale has resulted in no change in his ownership percentage of the stock.

Current Market Performance

Boyd Gaming's stock was trading at $68.66 as of Friday. The market capitalization of the company stands at $6.30 billion, with a P/E ratio of 13.10. The stock exhibits a PEG ratio of 9.19 and a beta of 1.57. Financial indicators show a debt-to-equity ratio of 1.70, a current ratio of 0.83, and a quick ratio of 0.79. Over the past year, the stock reached a low of $49.34 and a high of $72.22. Its 50-day moving average is $63.55, while the 200-day moving average is $58.64.

Dividend Announcement

The company recently declared a quarterly dividend, which was distributed on October 15th. Stockholders who were on record as of September 15th received a dividend payout of $0.17 per share, resulting in an annualized dividend of $0.68. Consequently, the dividend yield is reported at 0.99%, with an ex-dividend date set for September 13th. At present, Boyd Gaming's payout ratio is calculated to be 12.98%.

Institutional Investor Activity

In recent months, several institutional investors have adjusted their stakes in Boyd Gaming. Notably, Allspring Global Investments Holdings LLC increased its holdings by 57.4%, acquiring an additional 189 shares. Similarly, the State of Michigan Retirement System raised its position by 2.4%, purchasing an extra 400 shares. Other significant changes in holdings were reported by BNP Paribas Financial Markets, Fortem Financial Group LLC, and Texas Permanent School Fund Corp. Overall, institutional investors own approximately 76.81% of Boyd Gaming's shares.

Analyst Perspectives

Various analysts have offered insights regarding Boyd Gaming's stock. Recently, Macquarie reduced the price target for the shares from $72.00 to $68.00, maintaining a "neutral" rating. Conversely, Bank of America increased its price target from $68.00 to $72.00, reaffirming a "buy" rating. Meanwhile, Morgan Stanley lifted its target from $74.00 to $78.00, suggesting an "overweight" rating. Mizuho announced an upgraded target price of $79.00. According to reports from StockNews.com, Boyd Gaming's stock rating has improved from "buy" to "strong buy". The consensus from analysts indicates a moderate buy rating, with a target price averaging $91.38.

Company Overview

Boyd Gaming Corporation is a multi-jurisdictional gaming company with operations across various states in the U.S., including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. Their business segments comprise Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online.

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