Insider Selling: Boyd Gaming Co. (NYSE:BYD) CEO Sells 30,000 Shares of Stock

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 30,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $72.15, for a total value of $2,164,500.00. Following the sale, the chief executive officer now owns 1,101,202 shares in the company, valued at $79,451,724.30. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Keith Smith also recently made the following trade(s):

• On Tuesday, November 19th, Keith Smith sold 30,000 shares of Boyd Gaming stock. The stock was sold at an average price of $71.77, for a total value of $2,153,100.00.
• On Wednesday, November 13th, Keith Smith sold 40,000 shares of Boyd Gaming stock. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00.

Boyd Gaming Price Performance

BYD stock opened at $73.10 on Thursday. The company’s 50-day moving average price is $67.62 and its two-hundred day moving average price is $60.36. The firm has a market cap of $6.46 billion, a P/E ratio of 13.95, a P/E/G ratio of 9.58 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $74.78.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the second quarter worth $29,000. Covestor Ltd raised its holdings in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Boyd Gaming by 58.2% during 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. 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 last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after buying an additional 802 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Mizuho reissued an “outperform” rating and set a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays boosted their target price on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Bank of America raised their price target on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.38.

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.