177,724 Shares in Boyd Gaming Co. (NYSE:BYD) Purchased by Goldentree Asset Management LP

Goldentree Asset Management LP acquired a new position in Boyd Gaming Co. (NYSE:BYD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 177,724 shares of the company’s stock, valued at approximately $11,490,000. Boyd Gaming accounts for about 0.9% of Goldentree Asset Management LP’s portfolio, making the stock its 28th largest position. Goldentree Asset Management LP owned 0.20% of Boyd Gaming as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Boyd Gaming in the second quarter valued at approximately $29,000. Covestor Ltd grew its stake in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares during the period. Blue Trust Inc. grew its stake in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after acquiring an additional 288 shares during the period. Farther Finance Advisors LLC increased 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 acquiring an additional 802 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Boyd Gaming by 85.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 943 shares of the company’s stock valued at $61,000 after acquiring an additional 434 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their target price on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial lifted their price target on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price objective on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Stock Up 0.1 %

Shares of Boyd Gaming stock opened at $73.10 on Friday. The company has a 50-day simple moving average of $67.82 and a two-hundred day simple moving average of $60.45. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $74.78. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market capitalization of $6.46 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 9.59 and a beta of 1.55.

Insider Buying and Selling

In other news, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the transaction, the director now directly owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Smith sold 40,000 shares of the business’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 sale, the chief executive officer now owns 1,161,202 shares of the company’s stock, 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. Insiders sold a total of 146,704 shares of company stock worth $10,540,944 in the last three months. Insiders own 27.94% of the company’s stock.

Boyd Gaming 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.