Boyd Gaming Corporation (NYSE:BYD – Get Free Report) CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the completion of the sale, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Boyd Gaming Trading Down 0.5%
Shares of NYSE:BYD opened at $90.78 on Thursday. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 4.00, a PEG ratio of 2.23 and a beta of 1.07. Boyd Gaming Corporation has a 1-year low of $76.33 and a 1-year high of $91.41. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. The company has a 50 day moving average price of $86.52 and a 200 day moving average price of $84.90.
Boyd Gaming (NYSE:BYD – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.29%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. On average, research analysts anticipate that Boyd Gaming Corporation will post 7.29 EPS for the current fiscal year.
Boyd Gaming Dividend Announcement
Boyd Gaming declared that its Board of Directors has initiated a share buyback program on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several equities research analysts have recently commented on BYD shares. Morgan Stanley reduced their target price on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Monday. Citigroup lifted their price target on Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Mizuho set a $104.00 price objective on Boyd Gaming in a report on Friday, July 24th. Texas Capital raised shares of Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company raised their target price on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.69.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in Boyd Gaming by 8.8% in the 1st quarter. Bank of America Corp DE now owns 569,427 shares of the company’s stock worth $46,796,000 after acquiring an additional 46,146 shares in the last quarter. Seven Six Capital Management LLC boosted its position in Boyd Gaming by 5.6% during the 1st quarter. Seven Six Capital Management LLC now owns 125,875 shares of the company’s stock worth $10,344,000 after acquiring an additional 6,700 shares during the period. Janus Henderson Group PLC grew its stake in Boyd Gaming by 0.3% during the 1st quarter. Janus Henderson Group PLC now owns 122,988 shares of the company’s stock valued at $10,108,000 after acquiring an additional 370 shares in the last quarter. Altshuler Shaham Ltd grew its stake in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after acquiring an additional 159 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Boyd Gaming by 10.7% in the 1st quarter. California State Teachers Retirement System now owns 64,752 shares of the company’s stock valued at $5,321,000 after purchasing an additional 6,245 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.
About Boyd Gaming
Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.
Founded in 1975 by its namesake, William S.
Featured Articles
- Five stocks we like better than Boyd Gaming
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.
