Boyd Gaming (NYSE:BYD) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Boyd Gaming (NYSE:BYD) from a buy rating to a strong-buy rating in a research note published on Monday morning.

Other equities analysts have also recently issued research reports about the stock. Bank of America increased their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Wells Fargo & Company increased their price target on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Macquarie decreased their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Morgan Stanley increased their target price on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Truist Financial boosted their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

Boyd Gaming Stock Down 1.7 %

Shares of NYSE BYD opened at $70.41 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The firm has a market cap of $6.68 billion, a PE ratio of 12.64 and a beta of 1.57. The company’s fifty day simple moving average is $63.17 and its 200 day simple moving average is $58.54. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $72.22.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 0.97%. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Insiders Place Their Bets

In related news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama increased its position in Boyd Gaming by 14.8% in the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after buying an additional 28,844 shares during the last quarter. Sei Investments Co. grew its stake in shares of Boyd Gaming by 14.7% during the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after acquiring an additional 51,252 shares during the period. Seven Eight Capital LP purchased a new stake in Boyd Gaming in the 1st quarter worth about $930,000. Banco Santander S.A. raised its stake in Boyd Gaming by 34.0% in the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock valued at $12,622,000 after acquiring an additional 47,606 shares during the period. Finally, Comerica Bank lifted its holdings in Boyd Gaming by 103.1% during the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after purchasing an additional 21,772 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.