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 Boyd Gaming stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $72.15, for a total value of $2,164,500.00. Following the transaction, the chief executive officer now owns 1,101,202 shares of the company’s stock, valued at $79,451,724.30. This trade represents a 2.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, November 19th, Keith Smith sold 30,000 shares of Boyd Gaming stock. The shares were 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 Stock Performance

Shares of BYD stock opened at $73.04 on Wednesday. The firm’s 50 day moving average is $67.41 and its 200 day moving average is $60.22. The stock has a market capitalization of $6.46 billion, a P/E ratio of 13.94, a PEG ratio of 9.49 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. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BYD. Morgan Stanley increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Mizuho restated 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. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in shares of 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 in the last quarter. Long Pond Capital LP purchased a new position in Boyd Gaming during the 2nd quarter valued at about $20,440,000. Ariel Investments LLC increased its position in shares of Boyd Gaming by 12.5% during the second 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 lifted its holdings in shares of Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after buying an additional 274,876 shares in the last quarter. Finally, Beck Bode LLC bought a new position in shares of Boyd Gaming in the first quarter valued at approximately $15,985,000. Hedge funds and other institutional investors 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.