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

International Assets Investment Management LLC bought a new stake in shares of Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, HoldingsChannel.com reports. The fund bought 188,024 shares of the company’s stock, valued at approximately $117,720,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in shares of Boyd Gaming by 17.6% in the third quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock worth $7,032,000 after buying an additional 17,321 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Boyd Gaming in the third quarter valued at approximately $1,898,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Boyd Gaming by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock valued at $917,000 after purchasing an additional 1,795 shares during the period. Strs Ohio grew its holdings in shares of Boyd Gaming by 2.4% in the third quarter. Strs Ohio now owns 150,101 shares of the company’s stock worth $9,130,000 after purchasing an additional 3,480 shares during the last quarter. Finally, Advisor Partners II LLC increased its stake in shares of Boyd Gaming by 16.3% in the third quarter. Advisor Partners II LLC now owns 3,889 shares of the company’s stock worth $237,000 after buying an additional 546 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Argus cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday. Mizuho reduced their price target on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Susquehanna reiterated a “neutral” rating and issued a $75.00 price objective (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $71.00 in a research note on Friday, April 26th. Finally, Stifel Nicolaus decreased their target price on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating for the company in a report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $72.20.

Insiders Place Their Bets

In other news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the transaction, the director now directly owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Trading Up 1.5 %

BYD opened at $54.15 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. Boyd Gaming Co. has a 52 week low of $52.42 and a 52 week high of $73.00. The stock has a market cap of $5.18 billion, a PE ratio of 9.58, a PEG ratio of 2.54 and a beta of 1.64. The business has a 50 day moving average of $63.44 and a 200-day moving average of $61.89.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.66 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 analyst estimates of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. Equities research analysts predict that Boyd Gaming Co. will post 6.11 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

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

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.