International Assets Investment Management LLC Sells 181,705 Shares of Boyd Gaming Co. (NYSE:BYD)

International Assets Investment Management LLC lessened its holdings in Boyd Gaming Co. (NYSE:BYD) by 98.5% during the fourth quarter, Holdings Channel reports. The fund owned 2,855 shares of the company’s stock after selling 181,705 shares during the period. International Assets Investment Management LLC’s holdings in Boyd Gaming were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Boyd Gaming in the 2nd quarter valued at $29,000. GAMMA Investing LLC grew its holdings in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Covestor Ltd grew its holdings in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after buying an additional 208 shares in the last quarter. Quarry LP grew its holdings in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after buying an additional 802 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Insider Buying and Selling

In other Boyd Gaming news, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at approximately $31,330,269.45. This trade represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine J. Spadafor sold 660 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares of the company’s stock, valued at $452,339.36. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,364 shares of company stock worth $10,590,893 in the last ninety days. 27.94% of the stock is owned by insiders.

Boyd Gaming Price Performance

Shares of BYD stock opened at $71.75 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $76.73. The company has a market cap of $6.34 billion, a P/E ratio of 13.69, a P/E/G ratio of 9.93 and a beta of 1.54. The business has a fifty day simple moving average of $72.83 and a 200 day simple moving average of $65.02.

Boyd Gaming declared that its Board of Directors has initiated a share buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.95%. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Wall Street Analysts Forecast Growth

BYD has been the topic of a number of research reports. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday, December 17th. Morgan Stanley upped their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Mizuho reissued an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Finally, Bank of America increased their target price on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.67.

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.