Boyd Gaming Co. (NYSE:BYD) Short Interest Up 7.3% in October

Posted by Defense World Staff on Nov 1st, 2023

Boyd Gaming Co. (NYSE:BYD – Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,800,000 shares, a growth of 7.3% from the September 30th total of 3,540,000 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average daily trading volume, of 792,600 shares, the days-to-cover ratio is currently 4.8 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Argus upped their target price on shares of Boyd Gaming from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Susquehanna dropped their price objective on shares of Boyd Gaming from $87.00 to $84.00 and set a “positive” rating for the company in a research note on Tuesday, October 24th. Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $82.00 to $83.00 in a research note on Thursday, July 13th. Morgan Stanley dropped their price objective on shares of Boyd Gaming from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 25th. Finally, StockNews.com initiated coverage on shares of Boyd Gaming in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

View Our Latest Analysis on BYD

Boyd Gaming Stock Down 0.5 %

BYD opened at $55.28 on Wednesday. The firm’s 50-day simple moving average is $61.66 and its 200-day simple moving average is $65.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.80 and a current ratio of 0.84. Boyd Gaming has a twelve month low of $52.42 and a twelve month high of $73.00. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 2.23 and a beta of 1.76.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Friday, September 15th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, September 14th. Boyd Gaming’s dividend payout ratio is currently 9.43%.

Insider Transactions at Boyd Gaming

In other news, insider William S. Boyd sold 1,914 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $67.00, for a total value of $128,238.00. Following the completion of the sale, the insider now directly owns 9,764,310 shares in the company, valued at $654,208,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider William S. Boyd sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.42, for a total transaction of $6,742,000.00. Following the completion of the transaction, the insider now directly owns 9,866,224 shares in the company, valued at approximately $665,180,822.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William S. Boyd sold 1,914 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $67.00, for a total transaction of $128,238.00. Following the transaction, the insider now owns 9,764,310 shares of the company’s stock, valued at $654,208,770. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,121 shares of company stock worth $10,183,303. 29.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds have recently added to or reduced their stakes in BYD. Boston Partners bought a new stake in Boyd Gaming during the 1st quarter worth about $82,706,000. Ariel Investments LLC grew its holdings in Boyd Gaming by 63.4% during the 1st quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock worth $172,965,000 after acquiring an additional 1,020,515 shares during the last quarter. Millennium Management LLC grew its holdings in Boyd Gaming by 98.1% during the 4th quarter. Millennium Management LLC now owns 1,711,767 shares of the company’s stock worth $93,343,000 after acquiring an additional 847,797 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in Boyd Gaming by 451.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 967,780 shares of the company’s stock worth $62,054,000 after acquiring an additional 792,277 shares during the last quarter. Finally, Norges Bank bought a new stake in Boyd Gaming during the 4th quarter worth about $41,625,000. Institutional investors own 67.98% of the company’s stock.

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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.