Principal Financial Group Inc. lessened its position in shares of Boyd Gaming Co. (NYSE:BYD) by 37.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 423,636 shares of the company’s stock after selling 258,132 shares during the quarter. Principal Financial Group Inc. owned approximately 0.38% of Boyd Gaming worth $13,497,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BYD. PointState Capital LP acquired a new stake in Boyd Gaming during the 1st quarter valued at approximately $29,611,000. Sound Point Capital Management LP acquired a new stake in Boyd Gaming during the 1st quarter valued at approximately $13,678,000. Northern Trust Corp increased its position in Boyd Gaming by 23.7% during the 1st quarter. Northern Trust Corp now owns 1,286,118 shares of the company’s stock valued at $40,976,000 after purchasing an additional 246,426 shares during the period. American International Group Inc. increased its position in Boyd Gaming by 227.0% during the 1st quarter. American International Group Inc. now owns 215,721 shares of the company’s stock valued at $6,873,000 after purchasing an additional 149,760 shares during the period. Finally, Interval Partners LP acquired a new stake in Boyd Gaming during the 1st quarter valued at approximately $4,460,000. 73.67% of the stock is owned by institutional investors and hedge funds.

Shares of BYD stock opened at $35.08 on Friday. The company has a market cap of $4.03 billion, a PE ratio of 34.06 and a beta of 1.69. Boyd Gaming Co. has a 52 week low of $24.52 and a 52 week high of $40.44. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.03 and a quick ratio of 0.74.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $616.80 million during the quarter, compared to the consensus estimate of $608.94 million. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. sell-side analysts expect that Boyd Gaming Co. will post 1.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, July 15th. Investors of record on Friday, June 29th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.68%. The ex-dividend date was Thursday, June 28th. Boyd Gaming’s payout ratio is currently 23.30%.

A number of research firms have weighed in on BYD. ValuEngine downgraded shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Boyd Gaming from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, Jefferies Financial Group set a $42.00 price objective on shares of Boyd Gaming and gave the stock a “hold” rating in a research report on Friday, July 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.75.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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