Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Boyd Gaming Corporation shares valued at $456,595 were sold by SPADAFOR CHRISTINE J. on Aug 31. At $54.59 per share, SPADAFOR CHRISTINE J. sold 8,364 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, SPADAFOR CHRISTINE J. purchased 25 shares, netting a total of over 1,251 in proceeds. Following the buying of shares at $49.80 each, the insider now holds 8,364 shares.
Before that, SMITH KEITH had sold 101,675 shares from its account. In a trade valued at $6,085,331, the President & CEO traded Boyd Gaming Corporation shares for $59.85 each. Upon closing the transaction, the insider’s holdings decreased to 101,675 shares, worth approximately $61.09 million.
As published in their initiating research note from Loop Capital on July 11, 2022, Boyd Gaming Corporation [BYD] has been a Buy and the price target has been revised to $86. This represents a 43.69% premium over Thursday’s closing price. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in late June. As of May 12, 2022, Berenberg has initiated its “Buy” rating for BYD. Earlier on April 26, 2022, Susquehanna upgraded its rating. Their new recommendation was “a Positive” for BYD stock which previously was a “a Neutral”.
Analyzing BYD’s Price Performance
On Thursday, Boyd Gaming Corporation [NYSE: BYD] plunged -4.95% to $48.43. The stock’s lowest price that day was $47.97, but it reached a high of $50.98 in the same session. During the last five days, there has been a drop of approximately -9.91%. Over the course of the year, Boyd Gaming Corporation shares have dropped approximately -26.14%. Shares of the company reached a 52-week high of $72.72 on 02/10/22 and a 52-week low of $47.66 on 06/23/22. A 50-day SMA is recorded $54.81, while a 200-day SMA reached $59.44. Nevertheless, trading volume fell to 1.96 million shares from 0.98 million shares the previous day.
Support And Resistance Levels for Boyd Gaming Corporation (BYD)
According to the 24-hour chart, there is a support level at 47.27, which, if violated, would cause prices to drop to 46.12. In the upper region, resistance lies at 50.28. The next price resistance is at 52.14. RSI (Relative Strength Index) is 29.98 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.98, which suggests the price will decrease in the coming days. Percent R is at 95.47%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Boyd Gaming Corporation subject to short interest?
Stocks of Boyd Gaming Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by 10000.0 shares to 5.55 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.56 million shares. A decline of -0.18% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.68 of the overall float, the days-to-cover ratio (short ratio) decline to 4.68.
Which companies own the most shares of Boyd Gaming Corporation (BYD)?
According to The Vanguard Group, Inc. filings, the company currently owns 8,547,105 shares, which is about 8.00% of the total BYD shares outstanding. The investor’s shares have plunged by -375,718 from its previous 13-F filing of 8922823.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $333,080,357. HG Vora Capital Management LLC acquire a 26.67% interest valued at $258.54 million while Cohen & Steers Capital Management purchased a 78,125 stake. A total of 727,033 shares of Boyd Gaming Corporation were bought by Ariel Investments LLC during the quarter, and -423,107 were sold by Fidelity Management & Research Co. In its current portfolio, BAMCO, Inc. holds 2,266,120 shares valued at $123.34 million.
In terms of Boyd Gaming Corporation share price expectations, FactSet research, analysts set an average price target of $69.30 in the next 12 months, up nearly 41.32% from the previous closing price of $50.95. Analysts anticipate Boyd Gaming Corporation stock to reach $80.00 by 2022, with the lowest price target being $52.25. In spite of this, 12 analysts ranked Boyd Gaming Corporation stock as a Buy at the end of 2022. On April 25, 2022, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $76.