International Assets Investment Management LLC Takes $223,000 Position in Boyd Gaming Corporation $BYD

International Assets Investment Management LLC purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the second quarter, Holdings Channel reports. The institutional investor purchased 2,856 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds have also modified their holdings of BYD. Jacobs Levy Equity Management Inc. purchased a new position in shares of Boyd Gaming during the first quarter valued at $8,976,000. Victory Capital Management Inc. grew its stake in Boyd Gaming by 13.3% in the first quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after purchasing an additional 122,822 shares in the last quarter. Gotham Asset Management LLC grew its stake in Boyd Gaming by 39.2% in the first quarter. Gotham Asset Management LLC now owns 346,787 shares of the company’s stock valued at $22,829,000 after purchasing an additional 97,703 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Boyd Gaming by 870.3% in the second quarter. Allianz Asset Management GmbH now owns 99,940 shares of the company’s stock valued at $7,818,000 after purchasing an additional 89,640 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Boyd Gaming by 14.2% in the first quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock valued at $44,930,000 after purchasing an additional 85,087 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the completion of the transaction, the chairman owned 1,504,379 shares of the company’s stock, valued at approximately $126,623,580.43. The trade was a 6.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith Smith sold 50,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $91,123,889.01. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,438 shares of company stock worth $32,638,085 in the last ninety days. 27.94% of the stock is owned by insiders.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $84.96 on Friday. Boyd Gaming Corporation has a fifty-two week low of $58.94 and a fifty-two week high of $88.49. The business has a 50-day moving average of $84.59 and a two-hundred day moving average of $78.75. The stock has a market capitalization of $6.81 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.22 and a beta of 1.30. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The company had revenue of $707.32 million during the quarter. On average, equities research analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s payout ratio is currently 11.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho boosted their target price on Boyd Gaming from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research note on Wednesday, October 8th. Truist Financial boosted their target price on Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Boyd Gaming presently has an average rating of “Hold” and a consensus target price 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.