Trexquant Investment LP Takes $6.19 Million Position in Boyd Gaming Co. (NYSE:BYD)

Trexquant Investment LP purchased a new position in Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 85,388 shares of the company’s stock, valued at approximately $6,194,000. Trexquant Investment LP owned 0.10% of Boyd Gaming at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BYD. UMB Bank n.a. increased its position in shares of Boyd Gaming by 80.3% during 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 during the period. GAMMA Investing LLC increased its holdings in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Quarry LP raised its position in Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after purchasing an additional 524 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter worth $67,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Boyd Gaming during the third quarter valued at $64,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 2.4 %

NYSE BYD opened at $61.81 on Friday. The stock has a market cap of $5.10 billion, a P/E ratio of 9.94, a P/E/G ratio of 4.46 and a beta of 1.55. 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 12-month low of $49.34 and a 12-month high of $80.50. The company has a fifty day simple moving average of $72.67 and a two-hundred day simple moving average of $71.06.

Boyd Gaming (NYSE:BYD) last issued its quarterly 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 return on equity of 35.97% and a net margin of 14.70%. On average, analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current 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 given a dividend of $0.18 per share. The ex-dividend date of this dividend 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 1.16%. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.58%.

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the transaction, the director now directly owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 1,346,628 shares in the company, valued at $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. 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. Company insiders own 21.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BYD. Mizuho increased their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday, December 17th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Wells Fargo & Company lifted their price target on Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, StockNews.com cut Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Boyd Gaming Company 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.