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

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Boyd Gaming Stock Down 0.7 %

Shares of Boyd Gaming stock traded down $0.53 during trading hours on Thursday, hitting $73.02. The company had a trading volume of 1,055,783 shares, compared to its average volume of 924,404. The company’s 50-day moving average is $65.74 and its two-hundred day moving average is $59.26. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $74.78. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market cap of $6.45 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 9.64 and a beta of 1.55.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s payout ratio is 12.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Mizuho reissued an “outperform” rating and issued a $79.00 price objective (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Macquarie lowered their price objective on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Bank of America raised their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Truist Financial boosted their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.38.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BYD. Altshuler Shaham Ltd purchased a new position in Boyd Gaming during the 2nd quarter worth $29,000. Allspring Global Investments Holdings LLC increased its holdings 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 in the last quarter. Covestor Ltd increased its holdings 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 in the last quarter. Blue Trust Inc. increased 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 valued at $43,000 after purchasing an additional 288 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

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.