International Assets Investment Management LLC Grows Stake in Boyd Gaming Co. (NYSE:BYD)

International Assets Investment Management LLC grew its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 4,816.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,560 shares of the company's stock after buying an additional 180,806 shares during the quarter. International Assets Investment Management LLC owned 0.19% of Boyd Gaming worth $119,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Cetera Trust Company N.A grew its stake in shares of Boyd Gaming by 5.4% in the third quarter. Cetera Trust Company N.A now owns 3,330 shares of the company's stock valued at $215,000 after buying an additional 170 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock valued at $35,000 after buying an additional 189 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in Boyd Gaming by 2.6% in the second quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company's stock valued at $444,000 after purchasing an additional 205 shares during the period. Lazard Asset Management LLC boosted its holdings in Boyd Gaming by 4.9% in the first quarter. Lazard Asset Management LLC now owns 5,361 shares of the company's stock valued at $360,000 after purchasing an additional 249 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company's stock valued at $43,000 after purchasing an additional 288 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,242 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now owns 1,096 shares in the company, valued at $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Boyd Gaming from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $68.00 to $69.00 and gave the company a "neutral" rating in a report on Friday. Wells Fargo & Company lifted their target price on Boyd Gaming from $75.00 to $79.00 and gave the company an "overweight" rating in a report on Friday. Stifel Nicolaus lifted their target price on Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a report on Friday. Finally, Barclays lifted their price target on Boyd Gaming from $70.00 to $71.00 and gave the stock an "equal weight" rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has an average rating of "Moderate Buy" and a consensus price target of $91.38.

Boyd Gaming Stock Performance

Shares of BYD traded up $5.05 during midday trading on Friday, reaching $69.36. 2,402,960 shares of the stock were exchanged, compared to its average volume of 921,214. The business's 50-day moving average price is $62.42 and its 200 day moving average price is $58.40. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $71.00. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 12.45 and a beta of 1.57.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.09. The firm had revenue of $967.50 million for the quarter, compared to analysts' expectations of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 EPS. On average, sell-side analysts expect that Boyd Gaming Co. will post 6.25 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.21%.

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.