Traders Sell Shares of Boyd Gaming (BYD) on Strength Following Insider Selling

Traders sold shares of Boyd Gaming Co. (NYSE:BYD) on strength during trading hours on Monday after an insider sold shares in the company. $5.32 million flowed into the stock on the tick-up and $21.45 million flowed out of the stock on the tick-down, for a money net flow of $16.13 million out of the stock. Of all equities tracked, Boyd Gaming had the 0th highest net out-flow for the day. Boyd Gaming traded up $0.40 for the day and closed at $33.60Specifically, VP William R. Boyd sold 7,000 shares of Boyd Gaming stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $34.73, for a total value of $243,110.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Marianne Boyd Johnson sold 89,783 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $33.87, for a total transaction of $3,040,950.21. Following the completion of the sale, the executive vice president now directly owns 252,930 shares in the company, valued at approximately $8,566,739.10. The disclosure for this sale can be found here. Insiders sold a total of 328,294 shares of company stock worth $11,448,808 in the last ninety days. 28.88% of the stock is currently owned by insiders.

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

The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.82 and a current ratio of 0.87. The company has a market capitalization of $3,735.26, a price-to-earnings ratio of 20.45 and a beta of 1.92.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.04). Boyd Gaming had a net margin of 7.94% and a return on equity of 11.47%. The business had revenue of $590.83 million for the quarter, compared to the consensus estimate of $595.28 million. During the same period in the previous year, the firm earned $0.38 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. equities research analysts expect that Boyd Gaming Co. will post 1.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Friday, March 16th will be issued a dividend of $0.45 per share. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.37%. Boyd Gaming’s payout ratio is presently 12.20%.

A number of hedge funds have recently modified their holdings of BYD. Nationwide Fund Advisors raised its holdings in Boyd Gaming by 89.4% during the 3rd quarter. Nationwide Fund Advisors now owns 125,994 shares of the company’s stock valued at $3,282,000 after acquiring an additional 59,480 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Boyd Gaming by 144.6% in the third quarter. BNP Paribas Arbitrage SA now owns 121,643 shares of the company’s stock worth $3,169,000 after purchasing an additional 71,916 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in shares of Boyd Gaming by 49.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 34,760 shares of the company’s stock worth $905,000 after purchasing an additional 11,540 shares during the period. Rhumbline Advisers increased its holdings in shares of Boyd Gaming by 2.3% in the third quarter. Rhumbline Advisers now owns 168,714 shares of the company’s stock worth $4,395,000 after purchasing an additional 3,740 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Boyd Gaming by 38.5% in the third quarter. Russell Investments Group Ltd. now owns 18,978 shares of the company’s stock worth $495,000 after purchasing an additional 5,273 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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Boyd Gaming Company Profile

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.

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