Boyd Gaming Corporation (NYSE:BYD) Short Interest Update

Boyd Gaming Corporation (NYSE:BYD) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 3,231,662 shares, an increase of 22.9% from the November 30th total of 2,628,781 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 750,277 shares, the days-to-cover ratio is currently 4.3 days. Based on an average daily trading volume, of 750,277 shares, the days-to-cover ratio is currently 4.3 days. Approximately 5.3% of the company’s stock are sold short.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $85.32 on Friday. The stock’s 50-day simple moving average is $82.05 and its 200-day simple moving average is $82.75. The firm has a market capitalization of $6.67 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. Boyd Gaming has a fifty-two week low of $58.94 and a fifty-two week high of $88.49. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The company had revenue of $707.32 million for the quarter. As a group, equities research analysts forecast that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.15%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BYD. Raymond James Financial reiterated an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. UBS Group set a $110.00 price objective on Boyd Gaming in a research note on Wednesday, December 24th. Morgan Stanley boosted their price objective on Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Citigroup started coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of “Hold” and an average target price of $91.08.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 20,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the transaction, the director owned 1,960,447 shares in the company, valued at $157,541,520.92. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 27.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its position in shares of Boyd Gaming by 679.7% during the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock worth $87,842,000 after purchasing an additional 978,853 shares in the last quarter. Norges Bank purchased a new position in Boyd Gaming during the 2nd quarter worth approximately $54,933,000. Clark Capital Management Group Inc. purchased a new position in Boyd Gaming during the 3rd quarter worth approximately $50,295,000. Wedge Capital Management L L P NC acquired a new position in Boyd Gaming during the third quarter worth approximately $32,304,000. Finally, Invesco Ltd. lifted its stake in Boyd Gaming by 109.8% in the third quarter. Invesco Ltd. now owns 654,434 shares of the company’s stock valued at $56,576,000 after buying an additional 342,575 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.