Boyd Gaming Co. (NYSE:BYD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,177,350 shares of the company's stock after selling 67,891 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.33% of Boyd Gaming worth $85,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BYD. Boston Partners raised its holdings in Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. Norges Bank bought a new stake in Boyd Gaming during the fourth quarter worth $55,553,000. Raymond James Financial Inc. bought a new position in shares of Boyd Gaming in the fourth quarter valued at about $43,273,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after acquiring an additional 441,963 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock valued at $69,932,000 after acquiring an additional 261,443 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Trading Down 1.3%

Shares of BYD stock traded down $0.99 on Wednesday, reaching $73.06. 907,067 shares of the stock were exchanged, compared to its average volume of 947,001. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The stock has a 50 day moving average price of $68.09 and a 200 day moving average price of $71.84. The stock has a market cap of $5.95 billion, a PE ratio of 11.75, a P/E/G ratio of 4.46 and a beta of 1.32.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The company had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. During the same quarter last year, the company earned $1.51 earnings per share. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a $0.18 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.99%. Boyd Gaming's payout ratio is presently 11.75%.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company's stock, valued at $365,258.56. This trade represents a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.94% of the company's stock.

Wall Street Analyst Weigh In

BYD has been the topic of a number of recent analyst reports. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. StockNews.com downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Mizuho dropped their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Macquarie restated a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a research report on Friday, April 25th. Finally, Truist Financial cut their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has a consensus rating of "Moderate Buy" and an average target price of $78.69.

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.