Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Boyd Gaming Corporation shares valued at $2,550,120 were sold by BOYD WILLIAM S on Mar 09. At $64.52 per share, BOYD WILLIAM S sold 39,525 shares. The insider’s holdings dropped to 14,102,224 shares worth approximately $833.86 million following the completion of this transaction.
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Also, Thompson Stephen S. sold 28,376 shares, netting a total of over 1,867,992 in proceeds. Following the sale of shares at $65.83 each, the insider now holds 38,938 shares.
Before that, SMITH KEITH had sold 75,000 shares from its account. In a trade valued at $4,877,750, the President and CEO traded Boyd Gaming Corporation shares for $65.04 each. Upon closing the transaction, the insider’s holdings decreased to 75,000 shares, worth approximately $72.29 million.
As published in their initiating research note from ROTH Capital on January 18, 2023, Boyd Gaming Corporation [BYD] has been a Buy and the price target has been revised to $70. This represents a 15.53% premium over Wednesday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid January. As of December 12, 2022, JMP Securities has decreased its “Mkt outperform” rating to a “Mkt perform” for BYD. Earlier on November 21, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Underweight” for BYD stock.
Analyzing BYD Stock Performance
On Wednesday, Boyd Gaming Corporation [NYSE: BYD] plunged -1.89% to $59.13. The stock’s lowest price that day was $57.74, but it reached a high of $59.24 in the same session. During the last five days, there has been a drop of approximately -8.85%. Over the course of the year, Boyd Gaming Corporation shares have jumped approximately 8.44%. Shares of the company reached a 52-week high of $67.50 on 02/15/23 and a 52-week low of $54.03 on 01/03/23. A 50-day SMA is recorded $62.09, while a 200-day SMA reached $56.68. Nevertheless, trading volume fell to 1.06 million shares from 1.02 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 58.17, which, if violated, would cause prices to drop to 57.20. In the upper region, resistance lies at 59.67. The next price resistance is at 60.20. RSI (Relative Strength Index) is 34.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.85, which suggests the price will decrease in the coming days. Percent R is at 83.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Boyd Gaming Corporation (BYD)?
According to The Vanguard Group, Inc. filings, the company currently owns 7,995,545 shares, which is about 7.66% of the total BYD shares outstanding. The investor’s shares have plunged by -421,821 from its previous 13-F filing of 8417366.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $418,313,317. Cohen & Steers Capital Management reduced a -4.01% interest valued at $268.62 million while HG Vora Capital Management LLC sold a -1,000,000 stake. A total of -106,447 shares of Boyd Gaming Corporation were sold by Ariel Investments LLC during the quarter, and 45,437 were bought by SSgA Funds Management, Inc. In its current portfolio, Fidelity Management & Research Co holds 2,227,598 shares valued at $145.08 million.
In terms of Boyd Gaming Corporation share price expectations, FactSet research, analysts set an average price target of $74.07 in the next 12 months, up nearly 23.61% from the previous closing price of $60.27. Analysts anticipate Boyd Gaming Corporation stock to reach $81.00 by 2023, with the lowest price target being $62.00. In spite of this, 16 analysts ranked Boyd Gaming Corporation stock as an Overweight at the end of 2023. On September 23, 2022, JMP Securities assigned a price target of “a Mkt outperform” to the stock and initiated coverage with a $65.