Geode Capital Management LLC Sells 51,998 Shares of Boyd Gaming Co. (NYSE:BYD)

Geode Capital Management LLC trimmed its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,101,770 shares of the company's stock after selling 51,998 shares during the period. Geode Capital Management LLC owned 1.25% of Boyd Gaming worth $79,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BYD. UMB Bank n.a. boosted its holdings in Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after acquiring an additional 175 shares in the last quarter. GAMMA Investing LLC grew its position in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Boyd Gaming during the 4th quarter valued at about $67,000. Wilmington Savings Fund Society FSB purchased a new position in Boyd Gaming in the third quarter worth about $64,000. Finally, Allworth Financial LP lifted its stake in shares of Boyd Gaming by 2,735.1% in the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company's stock worth $79,000 after buying an additional 1,012 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BYD has been the topic of several analyst reports. Morgan Stanley cut Boyd Gaming from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $82.00 to $81.00 in a research report on Monday, February 24th. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Tuesday, December 17th. Barclays boosted their target price on Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Boyd Gaming has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

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Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William R. Boyd sold 15,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock valued at $5,158,490 over the last ninety days. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Stock Performance

Shares of NYSE:BYD traded up $0.61 during mid-day trading on Tuesday, reaching $65.27. 520,043 shares of the company traded hands, compared to its average volume of 976,028. The company's 50 day moving average price is $70.61 and its 200-day moving average price is $71.10. The firm has a market cap of $5.39 billion, a PE ratio of 10.49, a PEG ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share 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%. On average, equities analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is presently 11.58%.

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.