Boyd Gaming Corporation Common (NYSE:BYD) has been the object of insider selling activity recently. Keith Smith, President & CEO sold $1,277,872 worth of shares at an average price of $25.56 on Wed the 7th. That brings Smith’s holdings to $25,809,823 as reported to the SEC. Keith Smith, President & CEO disclosed the sale of 21,780 shares of (BYD). The shares were sold on June 2nd for an average price of $25.68. Smith now owns $25,930,996 of the stock per the Form 4 SEC filing.
Robert L. Boughner, Director sold $643,107 worth of shares at an average price of $25.21 on May 22nd. The Director now owns $1,008,400 of the stock as recorded in a recent Form 4 SEC filing.
Boyd Gaming Corporation, launched on June 8, 1988, 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. It owns and operates a travel agency and a captive insurance company that underwrites travel-related insurance, each located in Hawaii..
These funds have also shifted positions in (BYD). As of quarter end Morgan Stanley had sold 1,200 shares trimming its stake by 18.9%. The value of the investment in BYD went from $128,000 to $113,000 decreasing 11.7% for the reporting period. As of the end of the quarter Tower Research Capital LLC (trc) had disposed of a total of 2,235 shares trimming its holdings by 95.9%. The value of the investment in Boyd Gaming Corporation Common decreased from $47,000 to $2,000 a change of $45,000 quarter to quarter.
As of quarter end Goldman Sachs Group Inc had disposed of a total of 126,370 shares trimming its position 53.3%. The value of the company’s investment in Boyd Gaming Corporation Common went from $4,780,000 to $2,434,000 a change of 49.1% quarter over quarter. As of the end of the quarter Par Capital Management Inc had acquired a total of 103,715 shares growing its holdings by 1.1%. The value of the total investment in Boyd Gaming Corporation Common increased from $184,616,000 to $203,740,000 a change of $19,124,000 since the last quarter.
Janney Capital raised the price target and upgraded the stock on March 22 boosting the price target from $21.00 to $25.00 and moving the rating from “Neutral” to “Buy”. On March 22 the company was upgraded to “Buy” from “Neutral” and a price target of $25.00 was set by Janney Capital.
On February 18 Barclays made no change to the company rating of “Equal-weight” and raised the price target from $19.00 to $21.00. February 17 investment analysts at Nomura held the stock rating at “Neutral” and lowered the price expectation to $19.00 from $21.00.
Equity analyst Sterne Agee CRT both upgraded the stock and raised the price target on January 27 changing the price target from $0.00 to $22.00 and raising the rating from “Neutral” to “Buy”. On January 27 the stock rating was upgraded from “Neutral” to “Buy” with a current price target of $22.00 in a statement from Sterne Agee CRT.
In the market the company is trading down since yesterday’s close of $25.93. The company also recently declared a dividend for shareholders to be paid on Saturday the 15th of July 2017. The dividend will be $0.050 per share for the quarter or $0.20 annualized. This dividend represents a yeild of $0.79 which is the dividend as a percentage of the current share price. The ex-dividend date will be Monday the 12th of May 2008.
The stock last traded at $24.89 which is just over $24.42, the stock’s 50 day moving average and just above the 200 day moving average of $21.44. The 50 day moving average was up $0.47 or +1.93% and the 200 day average went up by +16.09%.
The company currently has a P/E ratio of 6.83 and market capitalization is 2.82B. As of the latest earnings report the EPS was $3.64 and is expected to be $1.14 for the current year with 113,234,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.24 and the next full year EPS is projected to be $1.39.