JPMorgan Chase & Co. Has $91.14 Million Stock Position in Boyd Gaming Co. (NYSE:BYD)

JPMorgan Chase & Co. cut its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,256,453 shares of the company's stock after selling 201,843 shares during the period. JPMorgan Chase & Co. owned 1.42% of Boyd Gaming worth $91,143,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BYD. Boston Partners boosted its holdings in Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $43,273,000. Allspring Global Investments Holdings LLC grew its position 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 worth $14,569,000 after buying an additional 140,707 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Boyd Gaming during the third quarter worth approximately $7,101,000. Finally, Sequoia Financial Advisors LLC bought a new position in Boyd Gaming during the 4th quarter worth $6,066,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. increased 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. Susquehanna upgraded shares of Boyd Gaming from a "neutral" rating to a "positive" rating and dropped their target price for the company from $79.00 to $77.00 in a research report on Wednesday, March 12th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a report on Friday, February 7th. Finally, Truist Financial decreased their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of "Moderate Buy" and a consensus price target of $95.00.

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Boyd Gaming Trading Down 0.8 %

BYD traded down $0.51 during trading on Tuesday, reaching $60.73. 1,279,578 shares of the company's stock were exchanged, compared to its average volume of 966,606. 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 one year low of $49.34 and a one year high of $80.50. The firm has a fifty day moving average price of $71.73 and a two-hundred day moving average price of $71.06. The stock has a market capitalization of $5.01 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, equities research analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.18 dividend. 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 dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming's payout ratio is currently 11.58%.

Insider Activity at Boyd Gaming

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

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.