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

Boyd Gaming Co. (NYSE:BYD) CEO Keith Smith sold 40,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Boyd Gaming Stock Down 0.7 %

Shares of BYD traded down $0.53 during mid-day trading on Thursday, reaching $73.02. 1,055,783 shares of the stock traded hands, compared to its average volume of 924,404. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 9.64 and a beta of 1.55. The stock has a fifty day simple moving average of $65.74 and a 200 day simple moving average of $59.26. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $74.78. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

BYD has been the topic of several analyst reports. Truist Financial raised their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Mizuho reaffirmed an “outperform” rating and set a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Macquarie decreased their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. 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. Based on data from MarketBeat.com, Boyd Gaming has an average rating of “Moderate Buy” and an average target price of $91.38.

Institutional Trading of Boyd Gaming

A number of hedge funds have recently made changes to their positions in the stock. Ariel Investments LLC grew 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 worth $167,046,000 after buying an additional 335,984 shares in the last quarter. Boston Partners boosted its holdings in 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 purchasing an additional 274,876 shares during the period. Bamco Inc. NY boosted its holdings in Boyd Gaming by 4.0% in the first quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock worth $127,864,000 after purchasing an additional 73,491 shares during the period. American Century Companies Inc. boosted its holdings in Boyd Gaming by 19.7% in the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after purchasing an additional 189,226 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Boyd Gaming by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after purchasing an additional 3,087 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Company Profile

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.