Geode Capital Management LLC Cuts Stake in Boyd Gaming Co. (NYSE:BYD)

Geode Capital Management LLC lessened its stake in Boyd Gaming Co. (NYSE:BYD) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,101,770 shares of the company’s stock after selling 51,998 shares during the quarter. Geode Capital Management LLC owned approximately 1.25% of Boyd Gaming worth $79,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of Boyd Gaming by 1.0% during the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company’s stock valued at $13,472,000 after purchasing an additional 1,797 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Boyd Gaming by 25.3% in the third quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company’s stock worth $3,062,000 after buying an additional 9,565 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Boyd Gaming by 226.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock valued at $14,569,000 after buying an additional 140,707 shares during the last quarter. Truist Financial Corp grew its holdings in Boyd Gaming by 20.7% during the 4th quarter. Truist Financial Corp now owns 4,458 shares of the company’s stock valued at $323,000 after buying an additional 765 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new stake in Boyd Gaming in the 4th quarter worth approximately $307,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Up 0.4 %

NYSE BYD opened at $64.55 on Friday. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The company’s 50-day moving average price is $70.85 and its 200-day moving average price is $71.06. The stock has a market cap of $5.33 billion, a PE ratio of 10.38, a PEG ratio of 4.46 and a beta of 1.31. 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 (NYSE:BYD) last issued its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Equities research analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, March 17th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. Boyd Gaming’s payout ratio is 11.58%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BYD shares. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Mizuho upped their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays boosted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Insiders Place Their Bets

In related news, Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the transaction, the director now owns 4,852 shares of the company’s stock, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the sale, the chairman now directly owns 1,346,628 shares in the company, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by company insiders.

About Boyd Gaming

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.