Bridgewater Associates LP Sells 62,867 Shares of Boyd Gaming Co. (NYSE:BYD)

Bridgewater Associates LP lowered its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 51.1% during the third quarter, HoldingsChannel reports. The fund owned 60,152 shares of the company’s stock after selling 62,867 shares during the quarter. Bridgewater Associates LP’s holdings in Boyd Gaming were worth $3,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new position in shares of Boyd Gaming during the 2nd quarter worth about $29,000. Covestor Ltd grew its position in Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares in the last quarter. Blue Trust Inc. increased its stake in Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after acquiring an additional 288 shares during the period. Farther Finance Advisors LLC raised 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 valued at $57,000 after acquiring an additional 802 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Boyd Gaming by 85.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 943 shares of the company’s stock worth $61,000 after acquiring an additional 434 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BYD shares. Bank of America upped their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Mizuho restated an “outperform” rating and set a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Finally, Barclays upped their price objective on Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.38.

Insider Buying and Selling

In other news, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now directly owns 1,161,202 shares in the company, valued at $85,336,734.98. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Boyd sold 25,155 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value 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 represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,704 shares of company stock valued at $10,540,944 over the last ninety days. Insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $73.86 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $74.78. The stock has a market capitalization of $6.53 billion, a P/E ratio of 14.10, a P/E/G ratio of 9.59 and a beta of 1.55. The business has a 50-day moving average price of $68.00 and a two-hundred day moving average price of $60.53.

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.