Boyd Gaming Co. (NYSE:BYD) Short Interest Update

Boyd Gaming Co. (NYSE:BYDGet Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 3,950,000 shares, a growth of 8.5% from the May 15th total of 3,640,000 shares. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is presently 3.9 days. Approximately 5.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of analysts have issued reports on BYD shares. Royal Bank of Canada reduced their price target on shares of Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating on the stock in a report on Thursday, May 16th. Argus downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Mizuho dropped their price target on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Barclays reduced their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded Boyd Gaming from a “buy” rating to a “hold” rating and lowered their target price for the company from $78.00 to $71.00 in a research report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Boyd Gaming has a consensus rating of “Hold” and a consensus target price of $91.42.

Get Our Latest Analysis on BYD

Insiders Place Their Bets

In related news, Director Christine J. Spadafor sold 1,874 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total value of $100,034.12. Following the transaction, the director now directly owns 2,338 shares of the company’s stock, valued at approximately $124,802.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently modified their holdings of the stock. Boston Partners grew its stake in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after purchasing an additional 274,876 shares in the last quarter. Burney Co. increased its stake in shares of Boyd Gaming by 427.8% during the first quarter. Burney Co. now owns 67,676 shares of the company’s stock valued at $4,556,000 after buying an additional 54,854 shares during the period. Beck Bode LLC purchased a new position in shares of Boyd Gaming during the first quarter valued at $15,985,000. Comerica Bank raised its holdings in shares of Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after acquiring an additional 21,772 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Boyd Gaming by 5.7% during the first quarter. Tidal Investments LLC now owns 11,578 shares of the company’s stock worth $779,000 after buying an additional 627 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Trading Down 1.3 %

Shares of NYSE:BYD traded down $0.73 during trading hours on Tuesday, hitting $53.73. 934,365 shares of the company’s stock traded hands, compared to its average volume of 899,009. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.80 and a quick ratio of 0.77. The business has a fifty day moving average price of $56.31 and a 200-day moving average price of $60.88. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $73.00. The firm has a market capitalization of $5.10 billion, a P/E ratio of 9.65 and a beta of 1.60.

Boyd Gaming (NYSE:BYDGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The business had revenue of $960.52 million during the quarter, compared to the consensus estimate of $947.26 million. Equities analysts expect that Boyd Gaming will post 6.06 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. Boyd Gaming’s payout ratio is 12.21%.

Boyd Gaming declared that its Board of Directors has approved a share buyback program on Monday, May 13th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Boyd Gaming Company Profile

(Get Free Report)

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.

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