International Assets Investment Management LLC Buys Shares of 2,856 Boyd Gaming Corporation $BYD

International Assets Investment Management LLC bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,856 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after acquiring an additional 122,822 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Boyd Gaming by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock valued at $64,765,000 after acquiring an additional 8,850 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company’s stock valued at $45,587,000 after acquiring an additional 7,400 shares in the last quarter. Northern Trust Corp raised its stake in Boyd Gaming by 14.2% during the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock valued at $44,930,000 after acquiring an additional 85,087 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Boyd Gaming by 7.5% during the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock valued at $42,204,000 after acquiring an additional 44,558 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Keith Smith sold 50,000 shares of Boyd Gaming stock in a transaction on Monday, August 18th. The stock was sold at an average price of $83.09, for a total value of $4,154,500.00. Following the transaction, the chief executive officer directly owned 1,096,689 shares in the company, valued at $91,123,889.01. The trade was a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ted Bogich sold 16,497 shares of Boyd Gaming stock in a transaction on Friday, August 1st. The stock was sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the transaction, the chief operating officer owned 45,116 shares in the company, valued at $3,752,748.88. The trade was a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,438 shares of company stock worth $32,638,085. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $84.96 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.22 and a beta of 1.30. The stock’s fifty day simple moving average is $84.59 and its 200 day simple moving average is $78.75. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $88.49.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The business had revenue of $707.32 million for the quarter. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. As a group, sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, September 15th. Boyd Gaming’s payout ratio is presently 11.08%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BYD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Morgan Stanley reiterated a “sell” rating on shares of Boyd Gaming in a research report on Friday, July 11th. Barclays lifted their price target on Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Finally, Zacks Research cut Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.67.

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.