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

International Assets Investment Management LLC grew its position in Boyd Gaming Co. (NYSE:BYD) by 25.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,754 shares of the company’s stock after acquiring an additional 750 shares during the period. International Assets Investment Management LLC’s holdings in Boyd Gaming were worth $207,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Cascade Investment Advisors Inc. acquired a new stake in Boyd Gaming in the 1st quarter valued at $1,220,000. III Capital Management increased its stake in shares of Boyd Gaming by 300.0% during the fourth quarter. III Capital Management now owns 40,000 shares of the company’s stock worth $2,504,000 after purchasing an additional 30,000 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Boyd Gaming by 14.8% during the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after purchasing an additional 28,844 shares during the last quarter. Sei Investments Co. raised its position in shares of Boyd Gaming by 14.7% during the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after purchasing an additional 51,252 shares during the last quarter. Finally, Alaska Permanent Fund Corp lifted its stake in Boyd Gaming by 301.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock valued at $1,893,000 after buying an additional 21,120 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Stock Up 0.2 %

Shares of NYSE BYD opened at $60.02 on Monday. The company has a market capitalization of $5.51 billion, a P/E ratio of 10.78, a P/E/G ratio of 8.84 and a beta of 1.58. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. The company has a 50 day simple moving average of $57.24 and a 200-day simple moving average of $58.68. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $68.46.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company had revenue of $967.50 million during the quarter, compared to analysts’ expectations of $909.49 million. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Boyd Gaming Co. will post 6.17 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.13%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

Boyd Gaming declared that its board has approved a stock buyback plan on Monday, May 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on BYD. Raymond James began coverage on Boyd Gaming in a report on Tuesday, May 21st. They set an “outperform” rating and a $67.00 target price for the company. Morgan Stanley lowered their target price on shares of Boyd Gaming from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada cut their price objective on shares of Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.08.

Insider Buying and Selling at Boyd Gaming

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

Boyd Gaming Company 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.