Boyd Gaming (NYSE:BYD) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Boyd Gaming Co. (NYSE:BYD) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $63.61 and traded as high as $72.48. Boyd Gaming shares last traded at $72.09, with a volume of 588,289 shares traded.

Analysts Set New Price Targets

BYD has been the topic of a number of analyst reports. Bank of America increased their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Mizuho reissued an “outperform” rating and set a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, December 17th. Finally, Morgan Stanley boosted their target price on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boyd Gaming has an average rating of “Moderate Buy” and a consensus target price of $91.64.

Boyd Gaming Stock Down 0.4 %

The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54. The firm’s 50 day simple moving average is $71.86 and its 200-day simple moving average is $63.61. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.17 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.94%. Boyd Gaming’s dividend payout ratio is presently 12.98%.

Boyd Gaming declared that its board has authorized a stock repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 40,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the completion of the sale, the chief executive officer now owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. The trade was a 3.33 % 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. Also, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the transaction, the director now directly owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,364 shares of company stock worth $10,590,893 over the last 90 days. Company insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Several hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Boyd Gaming by 13.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,911 shares of the company’s stock worth $877,000 after acquiring an additional 1,933 shares during the last quarter. Signaturefd LLC grew its stake in shares of Boyd Gaming by 13.4% during the second quarter. Signaturefd LLC now owns 2,728 shares of the company’s stock worth $150,000 after buying an additional 323 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Boyd Gaming by 25.0% during the second quarter. International Assets Investment Management LLC now owns 3,754 shares of the company’s stock worth $207,000 after buying an additional 750 shares during the last quarter. Fortem Financial Group LLC increased its holdings in shares of Boyd Gaming by 3.9% during the second quarter. Fortem Financial Group LLC now owns 17,966 shares of the company’s stock worth $990,000 after buying an additional 677 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Boyd Gaming by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 14,522 shares of the company’s stock valued at $800,000 after acquiring an additional 647 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

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.