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

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 40,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Boyd Gaming Stock Performance

NYSE:BYD traded up $0.10 on Friday, hitting $73.11. The stock had a trading volume of 28,300 shares, compared to its average volume of 920,325. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 9.60 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. The business’s 50-day simple moving average is $65.74 and its two-hundred day simple moving average is $59.26. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $74.78.

Boyd Gaming Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Boyd Gaming during the 2nd quarter valued at about $29,000. Allspring Global Investments Holdings LLC lifted its holdings in Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares in the last quarter. Covestor Ltd lifted its holdings in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares in the last quarter. Blue Trust Inc. lifted its holdings in 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 purchasing an additional 288 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after purchasing an additional 802 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Truist Financial increased their price objective on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their price objective 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. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Macquarie dropped their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Seven investment 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 company presently has a consensus rating of “Moderate Buy” and an average price target 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.