Boyd Gaming Co. (NYSE:BYD) VP William R. Boyd sold 53,110 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $31.52, for a total transaction of $1,674,027.20. Following the completion of the sale, the vice president now owns 27,792 shares in the company, valued at $876,003.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
NYSE:BYD opened at $31.72 on Friday. The company has a debt-to-equity ratio of 4.87, a current ratio of 2.86 and a quick ratio of 2.81. Boyd Gaming Co. has a fifty-two week low of $6.44 and a fifty-two week high of $36.22. The stock’s 50-day moving average is $31.18 and its two-hundred day moving average is $23.64. The stock has a market cap of $3.53 billion, a PE ratio of -54.69 and a beta of 2.30.
Boyd Gaming (NYSE:BYD) last released its earnings results on Saturday, October 31st. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.18. Boyd Gaming had a negative return on equity of 1.07% and a negative net margin of 2.71%. The company had revenue of $652.20 million for the quarter, compared to analysts’ expectations of $599.68 million. During the same quarter in the previous year, the business posted $0.39 EPS. The business’s revenue for the quarter was down 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Boyd Gaming Co. will post -0.18 earnings per share for the current year.
Several brokerages have commented on BYD. Bank of America boosted their price target on shares of Boyd Gaming from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. National Bank Financial cut shares of Boyd Gaming from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, October 20th. Morgan Stanley boosted their price target on shares of Boyd Gaming from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 27th. Barclays boosted their price target on shares of Boyd Gaming from $30.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Finally, 140166 cut shares of Boyd Gaming from a “positive” rating to a “neutral” rating in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.65.
A number of large investors have recently added to or reduced their stakes in BYD. FMR LLC lifted its holdings in shares of Boyd Gaming by 8.3% during the second quarter. FMR LLC now owns 9,628,151 shares of the company’s stock worth $201,229,000 after buying an additional 738,279 shares during the last quarter. State Street Corp lifted its stake in Boyd Gaming by 1.5% in the first quarter. State Street Corp now owns 2,546,153 shares of the company’s stock valued at $36,716,000 after buying an additional 37,108 shares during the period. Par Capital Management Inc. raised its position in shares of Boyd Gaming by 21.8% during the second quarter. Par Capital Management Inc. now owns 2,319,237 shares of the company’s stock worth $48,472,000 after purchasing an additional 414,772 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Boyd Gaming by 155.7% during the second quarter. Goldman Sachs Group Inc. now owns 1,861,565 shares of the company’s stock worth $38,907,000 after purchasing an additional 1,133,647 shares during the period. Finally, Bamco Inc. NY raised its position in shares of Boyd Gaming by 8.8% during the second quarter. Bamco Inc. NY now owns 1,769,411 shares of the company’s stock worth $36,981,000 after purchasing an additional 143,242 shares during the period. 68.35% of the stock is currently owned by institutional investors.
About Boyd Gaming
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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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