International Assets Investment Management LLC bought a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 188,024 shares of the company's stock, valued at approximately $117,720,000. International Assets Investment Management LLC owned approximately 0.19% of Boyd Gaming at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG grew its stake in shares of Boyd Gaming by 23.3% during the third quarter. Deutsche Bank AG now owns 230,397 shares of the company's stock worth $14,015,000 after purchasing an additional 43,578 shares in the last quarter. Sei Investments Co. grew its stake in shares of Boyd Gaming by 8.6% during the third quarter. Sei Investments Co. now owns 243,365 shares of the company's stock worth $14,804,000 after purchasing an additional 19,256 shares in the last quarter. UBS Group AG lifted its position in Boyd Gaming by 4.9% in the third quarter. UBS Group AG now owns 274,235 shares of the company's stock valued at $16,682,000 after acquiring an additional 12,798 shares during the last quarter. Black Diamond Capital Management L.L.C. purchased a new stake in Boyd Gaming in the third quarter valued at $4,988,000. Finally, Treasurer of the State of North Carolina lifted its position in Boyd Gaming by 79.0% in the third quarter. Treasurer of the State of North Carolina now owns 59,394 shares of the company's stock valued at $3,613,000 after acquiring an additional 26,222 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.
Boyd Gaming Stock Performance
Shares of NYSE:BYD traded up $0.47 on Friday, reaching $66.13. The company's stock had a trading volume of 643,061 shares, compared to its average volume of 726,567. The stock's 50-day moving average is $64.32 and its two-hundred day moving average is $61.68. Boyd Gaming Co. has a 52-week low of $52.42 and a 52-week high of $73.00. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market capitalization of $6.33 billion, a P/E ratio of 10.84, a PEG ratio of 3.03 and a beta of 1.60.
Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million during the quarter, compared to analysts' expectations of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 6.21 EPS for the current year.
Boyd Gaming Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a dividend of $0.17 per share. This is a boost from Boyd Gaming's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 14th. Boyd Gaming's dividend payout ratio is currently 11.15%.
Insider Buying and Selling
In related news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company's stock, valued at $555,168,740.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company's stock, valued at $555,168,740.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ted Bogich sold 41,631 shares of the company's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the transaction, the chief operating officer now owns 66,803 shares in the company, valued at $4,328,166.37. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock valued at $37,299,461 over the last ninety days. Corporate insiders own 27.94% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Boyd Gaming from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Susquehanna reissued a "neutral" rating and issued a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Mizuho assumed coverage on shares of Boyd Gaming in a research report on Tuesday, March 26th. They issued a "buy" rating and a $80.00 price target for the company. Morgan Stanley boosted their price target on shares of Boyd Gaming from $70.00 to $71.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $81.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.20.
View Our Latest Report on BYD
Boyd Gaming Company Profile
(
Free Report)
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.
Further Reading
Before you consider Boyd Gaming, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boyd Gaming wasn't on the list.
While Boyd Gaming currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
