Principal Financial Group Inc. Has $10.31 Million Holdings in Boyd Gaming Co. (NYSE:BYD)

Principal Financial Group Inc. trimmed its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 28.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,468 shares of the company’s stock after selling 64,949 shares during the period. Principal Financial Group Inc. owned about 0.17% of Boyd Gaming worth $10,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd bought a new position in Boyd Gaming in the second quarter valued at $29,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Boyd Gaming by 58.2% in the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after acquiring an additional 288 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after acquiring an additional 802 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Boyd Gaming during the first quarter worth about $90,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $71.95 on Tuesday. The company has a market cap of $6.36 billion, a P/E ratio of 13.73, a PEG ratio of 9.45 and a beta of 1.55. 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 business has a 50-day moving average price of $66.23 and a two-hundred day moving average price of $59.59. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $74.78.

Insider Buying and Selling

In other Boyd Gaming 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 transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This trade represents a 53.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 4.89 % 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 valued at $10,702,931 over the last ninety days. 27.94% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BYD has been the topic of several analyst reports. Mizuho reaffirmed an “outperform” rating and set a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Morgan Stanley upped their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price target on Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.