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

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 40,000 shares of Boyd Gaming stock in a transaction that occurred 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. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Boyd Gaming Stock Performance

Shares of BYD stock traded up $0.10 during mid-day trading on Friday, reaching $73.11. The stock had a trading volume of 28,300 shares, compared to its average volume of 920,325. The business’s fifty day moving average is $65.74 and its 200-day moving average is $59.26. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 9.60 and a beta of 1.55. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $74.78.

Boyd Gaming Announces Dividend

The company 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s dividend payout ratio is presently 12.98%.

Analyst Ratings Changes

A number of analysts have issued reports on BYD shares. Stifel Nicolaus lifted their price objective on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Mizuho reaffirmed an “outperform” rating and issued a $79.00 price objective (up previously from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Barclays upped 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. Bank of America upped their target price on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Seven investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Institutional Trading of Boyd Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of BYD. Altshuler Shaham Ltd acquired a new stake in Boyd Gaming during the second quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its position in Boyd Gaming by 57.4% during the first 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 boosted its position in Boyd Gaming by 54.9% during the third 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. boosted its position in Boyd Gaming by 58.2% during the second 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 boosted its position in Boyd Gaming by 921.8% during the third 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 institutional investors and hedge funds.

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.