Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Boyd Gaming Corp. shares valued at $2,030,856 were sold by BOYD WILLIAM S on Mar 14 ’24. At $62.10 per share, BOYD WILLIAM S sold 32,703 shares. The insider’s holdings dropped to 8,762,746 shares worth approximately $573.43 million following the completion of this transaction.
Also, BOYD WILLIAM S sold 63,464 shares, netting a total of over 4,005,848 in proceeds. Following the sale of shares at $63.12 each, the insider now holds 8,795,449 shares.
Before that, BOYD WILLIAM S had sold 125,000 shares from its account. In a trade valued at $7,908,750, the 10% Owner traded Boyd Gaming Corp. shares for $63.27 each. Upon closing the transaction, the insider’s holdings decreased to 125,000 shares, worth approximately $579.73 million.
As published in their initiating research note from Mizuho on March 26, 2024, Boyd Gaming Corp. [BYD] has been a Buy and the price target has been revised to $80. Analysts at Susquehanna downgraded the stock from ‘”a Positive”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of January 05, 2024, Stifel has decreased its “Buy” rating to a “Hold” for BYD. Earlier on December 15, 2023, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for BYD stock which previously was a “an Overweight”.
Analyzing BYD Stock Performance
During the last five days, there has been a drop of approximately -0.34%. Over the course of the year, Boyd Gaming Corp. shares have jumped approximately 4.52%. Shares of the company reached a 52-week high of $68.46 on 04/01/24 and a 52-week low of $60.57 on 01/05/24. A 50-day SMA is recorded $64.39, while a 200-day SMA reached $63.44. Nevertheless, trading volume fell to 0.67 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for Boyd Gaming Corp. (BYD)
According to the 24-hour chart, there is a support level at 64.72, which, if violated, would cause prices to drop to 63.99. In the upper region, resistance lies at 65.91. The next price resistance is at 66.37. RSI (Relative Strength Index) is 52.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 52.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Boyd Gaming Corp. subject to short interest?
Stocks of Boyd Gaming Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.44 million shares to 3.41 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.85 million shares. A decline of -12.9% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.33 of the overall float, the days-to-cover ratio (short ratio) decline to 4.33.
