Principal Financial Group Inc. Sells 64,949 Shares of Boyd Gaming Co. (NYSE:BYD)

Principal Financial Group Inc. reduced its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 28.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,468 shares of the company’s stock after selling 64,949 shares during the quarter. Principal Financial Group Inc.’s holdings in Boyd Gaming were worth $10,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Seven Eight Capital LP purchased a new position in Boyd Gaming during the first quarter worth about $930,000. Comerica Bank increased its position in shares of Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock worth $2,888,000 after purchasing an additional 21,772 shares during the last quarter. Sei Investments Co. increased its position in shares of Boyd Gaming by 24.7% in the second quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock worth $27,403,000 after purchasing an additional 98,508 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Boyd Gaming by 11,891.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after purchasing an additional 61,599 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Boyd Gaming during the second quarter valued at approximately $730,000. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Down 0.7 %

Shares of Boyd Gaming stock opened at $71.95 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 $74.78. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 9.45 and a beta of 1.55. The company’s 50 day moving average is $66.23 and its 200 day moving average is $59.59.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the sale, the director now owns 1,487,970 shares in the company, valued at $103,190,719.50. This represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 161,076 shares of company stock worth $10,702,931 in the last ninety days. Insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BYD. Mizuho reissued an “outperform” rating and issued a $79.00 target price (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Bank of America increased their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays boosted their target price on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Morgan Stanley increased their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

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.