Keith Smith Sells 40,000 Shares of Boyd Gaming Co. (NYSE:BYD) Stock

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total value of $2,939,600.00. Following the sale, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Boyd Gaming Trading Down 0.8 %

Shares of BYD opened at $72.43 on Friday. The stock’s 50-day moving average price is $65.99 and its 200 day moving average price is $59.39. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 9.60 and a beta of 1.55. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $74.78.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 dividend on an annualized basis and a dividend yield of 0.94%. Boyd Gaming’s payout ratio is 12.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BYD shares. Macquarie cut their price objective on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Mizuho reissued an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Bank of America raised their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Morgan Stanley upped their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.38.

Hedge Funds Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd acquired a new position in Boyd Gaming in the second quarter worth about $29,000. Allspring Global Investments Holdings LLC grew its stake in shares of Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the period. Covestor Ltd grew its stake in shares of Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares during the period. Blue Trust Inc. raised its holdings in shares of Boyd Gaming by 58.2% in the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after buying an additional 288 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after buying an additional 524 shares during the period. 76.81% of the stock is owned by institutional investors.

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.