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

by · The Cerbat Gem

Boyd Gaming Co. (NYSE:BYD – Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,330,000 shares, a decline of 5.7% from the August 15th total of 3,530,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.9% of the shares of the company are short sold.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 of the company’s stock, valued at approximately $66,154.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on 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 directly owns 1,423,498 shares in the company, valued at $85,737,284.54. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd purchased a new position in shares of Boyd Gaming during the 2nd quarter worth about $29,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares during the period. Blue Trust Inc. lifted its holdings in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after acquiring an additional 288 shares during the period. Principal Securities Inc. purchased a new position in shares of Boyd Gaming during the 4th quarter worth about $50,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Boyd Gaming during the 1st quarter worth about $90,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Macquarie lowered their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th. Finally, Bank of America upped their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $89.31.

Get Our Latest Report on Boyd Gaming

Boyd Gaming Price Performance

NYSE:BYD opened at $62.57 on Wednesday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 8.56 and a beta of 1.57. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The company’s 50-day moving average is $58.53 and its two-hundred day moving average is $58.40. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46.

Boyd Gaming (NYSE:BYD – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Research analysts expect that Boyd Gaming will post 6.25 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

About Boyd Gaming

(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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