Boyd Gaming Sees Large Drop in Short Interest (BYD)
Boyd Gaming (NYSE:BYD) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 9,638,188 shares, a decrease of 21.1% from the April 15th total of 12,216,189 shares, AR Network reports. Based on an average trading volume of 2,388,342 shares, the days-to-cover ratio is presently 4.0 days. Approximately 12.6% of the company’s shares are sold short.
In other Boyd Gaming news, VP William Boyd sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $11.02, for a total transaction of $132,240.00. Following the completion of the sale, the vice president now directly owns 33,960 shares of the company’s stock, valued at approximately $374,239. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
BYD has been the subject of a number of recent research reports. Analysts at Barclays cut their price target on shares of Boyd Gaming from $9.00 to $7.00 in a research note on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at Ascendiant Capital Markets initiated coverage on shares of Boyd Gaming in a research note on Tuesday, March 25th. They set a “hold” rating on the stock. Finally, analysts at Ascendiant Capital Markets reiterated a “hold” rating on shares of Boyd Gaming in a research note on Tuesday, March 25th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.54.
Shares of Boyd Gaming (NYSE:BYD) opened at 10.59 on Monday. Boyd Gaming has a one year low of $9.11 and a one year high of $14.75. The stock has a 50-day moving average of $11.51 and a 200-day moving average of $11.35. The company’s market cap is $1.148 billion.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Wednesday, April 30th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.03. The company had revenue of $708.30 million for the quarter, compared to the consensus estimate of $713.28 million. On average, analysts predict that Boyd Gaming will post $0.08 earnings per share for the current fiscal year.
Boyd Gaming Corporation (NYSE:BYD), incorporated in June 1988, is a multi-jurisdictional gaming company.
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