Boyd Gaming (NYSE:BYD) Hits New 52-Week High – Here’s What Happened

Shares of Boyd Gaming Co. (NYSE:BYD) reached a new 52-week high on Monday . The company traded as high as $74.99 and last traded at $74.99, with a volume of 241 shares trading hands. The stock had previously closed at $73.85.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of research reports. Wells Fargo & Company raised their target price on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America upped their price objective 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 research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Stock Up 1.5 %

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 firm has a market cap of $6.63 billion, a P/E ratio of 14.31, a P/E/G ratio of 9.69 and a beta of 1.55. The business has a fifty day moving average of $68.20 and a 200 day moving average of $60.75.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the sale, the director now owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,704 shares of company stock valued at $10,540,944. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after buying an additional 21,772 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Boyd Gaming by 11,891.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock worth $4,016,000 after purchasing an additional 61,599 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Boyd Gaming by 24.7% during the second quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock valued at $27,403,000 after purchasing an additional 98,508 shares in the last quarter. SG Americas Securities LLC bought a new position in Boyd Gaming in the 2nd quarter valued at approximately $730,000. Finally, Ariel Investments LLC increased its stake in shares of Boyd Gaming by 12.5% in 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. Institutional investors and hedge funds 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.