International Assets Investment Management LLC Invests $117.72 Million in Boyd Gaming Co. (NYSE:BYD)

International Assets Investment Management LLC bought a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 188,024 shares of the company's stock, valued at approximately $117,720,000. International Assets Investment Management LLC owned 0.19% of Boyd Gaming at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its position in shares of Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock valued at $25,000 after purchasing an additional 211 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company's stock valued at $64,000 after buying an additional 1,000 shares during the period. Blue Trust Inc. lifted its stake in shares of Boyd Gaming by 20,342.9% during the fourth quarter. Blue Trust Inc. now owns 1,431 shares of the company's stock valued at $87,000 after buying an additional 1,424 shares during the period. Fifth Third Bancorp lifted its stake in shares of Boyd Gaming by 42.0% during the fourth quarter. Fifth Third Bancorp now owns 3,606 shares of the company's stock valued at $226,000 after buying an additional 1,066 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in shares of Boyd Gaming during the third quarter valued at approximately $225,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

NYSE BYD traded down $0.06 on Friday, hitting $54.10. The stock had a trading volume of 973,127 shares, compared to its average volume of 850,789. Boyd Gaming Co. has a one year low of $52.42 and a one year high of $73.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 2.55 and a beta of 1.64. The company's 50-day moving average is $63.24 and its two-hundred day moving average is $61.84.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 14.91% and a return on equity of 34.77%. The business's revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.72 earnings per share. On average, analysts expect that Boyd Gaming Co. will post 6.06 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 14th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.21%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BYD shares. Morgan Stanley upped their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. downgraded shares of Boyd Gaming from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $80.00 to $67.00 in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Boyd Gaming from a "buy" rating to a "hold" rating and reduced their price objective for the company from $78.00 to $71.00 in a research note on Friday, April 26th. Truist Financial reduced their price objective on shares of Boyd Gaming from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, April 26th. Finally, Argus lowered shares of Boyd Gaming from a "buy" rating to a "hold" rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $72.20.

Insider Buying and Selling

In related news, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the completion of the sale, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Marianne Boyd Johnson sold 77,661 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total value of $5,037,869.07. Following the completion of the sale, the chairman now owns 1,511,433 shares in the company, valued at approximately $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William R. Boyd sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the sale, the vice president now owns 1,617,970 shares of the company's stock, valued at approximately $103,614,798.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 582,910 shares of company stock worth $37,299,461. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming 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.