Principal Financial Group Inc. Reduces Position in Boyd Gaming Co. (NYSE:BYD)

Principal Financial Group Inc. reduced its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 28.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,468 shares of the company's stock after selling 64,949 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Boyd Gaming worth $10,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Long Pond Capital LP bought a new position in Boyd Gaming in the 2nd quarter worth $20,440,000. Ariel Investments LLC raised its stake in shares of Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock worth $167,046,000 after buying an additional 335,984 shares during the period. Boston Partners lifted its position in shares of Boyd Gaming by 10.0% during the 1st quarter. Boston Partners now owns 3,031,091 shares of the company's stock valued at $203,276,000 after buying an additional 274,876 shares in the last quarter. Beck Bode LLC bought a new position in shares of Boyd Gaming during the 1st quarter valued at approximately $15,985,000. Finally, American Century Companies Inc. increased its holdings in Boyd Gaming by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company's stock worth $63,349,000 after acquiring an additional 189,226 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

Insider Buying and Selling at Boyd Gaming

In related news, CEO Keith Smith sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total value of $2,939,600.00. Following the completion of the sale, the chief executive officer now owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. The trade was a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 161,076 shares of company stock valued at $10,702,931 in the last quarter. 28.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BYD has been the subject of a number of analyst reports. StockNews.com upgraded shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Wells Fargo & Company raised their price target on Boyd Gaming from $75.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Bank of America increased their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Stifel Nicolaus raised their price target on Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a report on Friday, October 25th. Finally, Truist Financial upped their price objective on Boyd Gaming from $75.00 to $77.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boyd Gaming currently has an average rating of "Moderate Buy" and a consensus price target of $91.38.

Boyd Gaming Trading Down 0.3 %

Shares of BYD stock traded down $0.23 during trading hours on Tuesday, reaching $71.72. 89,580 shares of the stock were exchanged, compared to its average volume of 919,417. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The company's 50-day moving average price is $66.23 and its 200-day moving average price is $59.59. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $74.78. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 9.45 and a beta of 1.55.

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.