Trexquant Investment LP Acquires New Stake in Boyd Gaming Co. (NYSE:BYD)

Trexquant Investment LP bought a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 85,388 shares of the company's stock, valued at approximately $6,194,000. Trexquant Investment LP owned about 0.10% of Boyd Gaming at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. lifted 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 valued at $29,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Boyd Gaming by 47.4% in 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. Quarry LP grew its holdings in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company's stock worth $56,000 after purchasing an additional 524 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Boyd Gaming during the 4th quarter worth about $67,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Boyd Gaming in the 3rd quarter valued at about $64,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now directly owns 4,852 shares of the company's stock, valued at approximately $365,258.56. This represents a 18.82 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 27.94% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Susquehanna upgraded shares of Boyd Gaming from a "neutral" rating to a "positive" rating and dropped their price target for the company from $79.00 to $77.00 in a research report on Wednesday, March 12th. Barclays upped their price target 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. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Boyd Gaming has an average rating of "Moderate Buy" and an average target price of $95.00.

Boyd Gaming Stock Performance

NYSE BYD traded down $3.19 on Thursday, reaching $64.36. The stock had a trading volume of 340,363 shares, compared to its average volume of 972,090. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market cap of $5.31 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The business's 50-day moving average price is $71.34 and its 200 day moving average price is $71.06. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 35.97% and a net margin of 14.70%. As a group, equities analysts expect that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed 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 represents a $0.72 dividend on an annualized basis and a yield of 1.12%. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is presently 11.58%.

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.