Boyd Gaming Co. (NYSE:BYD) CEO Sells $2,939,600.00 in Stock

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the sale, the chief executive officer now directly owns 1,161,202 shares in the company, valued at $85,336,734.98. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $72.43 on Friday. 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 stock has a market cap of $6.40 billion, a PE ratio of 13.82, a PEG ratio of 9.60 and a beta of 1.55. The company’s fifty day moving average is $65.99 and its 200 day moving average is $59.43. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $74.78.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.94%. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Institutional Investors Weigh In On Boyd Gaming

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after purchasing an additional 894,383 shares during the last quarter. Long Pond Capital LP bought a new stake in Boyd Gaming during the 2nd quarter valued at $20,440,000. Ariel Investments LLC boosted its position in Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares during the period. Boston Partners boosted its position in Boyd Gaming by 10.0% during the 1st quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after buying an additional 274,876 shares during the period. Finally, Beck Bode LLC bought a new stake in Boyd Gaming in the 1st quarter worth $15,985,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BYD. Mizuho reaffirmed an “outperform” rating and issued a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Morgan Stanley upped their target price on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays lifted their price target on Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Truist Financial upped their price objective on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.