Nuveen Asset Management LLC Decreases Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Nuveen Asset Management LLC lowered its stake 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 Form 13F filing with the Securities & Exchange Commission. 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 about 1.33% of Boyd Gaming worth $85,405,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. increased its holdings in shares of Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. Cetera Trust Company N.A boosted its position in Boyd Gaming by 6.2% in the fourth quarter. Cetera Trust Company N.A now owns 3,535 shares of the company's stock valued at $256,000 after buying an additional 205 shares during the last quarter. CoreCap Advisors LLC boosted its position in Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after buying an additional 273 shares during the last quarter. US Bancorp DE boosted its position in Boyd Gaming by 13.6% in the fourth quarter. US Bancorp DE now owns 2,943 shares of the company's stock valued at $213,000 after buying an additional 353 shares during the last quarter. Finally, Keybank National Association OH boosted its position in Boyd Gaming by 2.6% in the fourth quarter. Keybank National Association OH now owns 14,039 shares of the company's stock valued at $1,018,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. This trade represents a 18.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 27.94% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BYD. Truist Financial dropped their target price on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Mizuho dropped their target price on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Barclays dropped their target price on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Boyd Gaming presently has a consensus rating of "Moderate Buy" and an average target price of $79.67.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $0.25 during midday trading on Friday, reaching $73.08. 948,361 shares of the stock were exchanged, compared to its average volume of 943,208. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 4.46 and a beta of 1.32. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The firm has a 50-day simple moving average of $68.37 and a two-hundred day simple moving average of $71.92. 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 (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to analysts' expectations of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. As a group, analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.18 per share. 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 11.75%.

About Boyd Gaming

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.