Boyd Gaming Co. (NYSE:BYD – Get Free Report) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 3,630,000 shares, a drop of 13.4% from the June 15th total of 4,190,000 shares. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is presently 3.2 days. Currently, 5.0% of the company’s stock are sold short.
Boyd Gaming Stock Up 1.9 %
Shares of NYSE BYD opened at $58.83 on Wednesday. Boyd Gaming has a 52 week low of $49.34 and a 52 week high of $73.00. The business has a 50-day simple moving average of $54.04 and a two-hundred day simple moving average of $59.93. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.61. The company has a market cap of $5.58 billion, a P/E ratio of 10.56 and a beta of 1.58.
Boyd Gaming (NYSE:BYD – Get Free Report) last issued its earnings results 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 return on equity of 34.76% and a net margin of 14.91%. The company had revenue of $960.52 million during the quarter, compared to the consensus estimate of $947.26 million. Research analysts anticipate that Boyd Gaming will post 6.04 earnings per share for the current fiscal year.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Saturday, June 15th were paid a $0.17 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.68 annualized dividend and a yield of 1.16%. Boyd Gaming’s dividend payout ratio is currently 12.21%.
Insider Buying and Selling
In related news, Director Christine J. Spadafor sold 1,874 shares of the stock in a transaction 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 in the company, valued at approximately $124,802.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.94% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in BYD. Rakuten Securities Inc. purchased a new position in shares of Boyd Gaming during the 4th quarter valued at about $30,000. Allspring Global Investments Holdings LLC raised 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 valued at $35,000 after buying an additional 189 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Boyd Gaming by 57.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 647 shares of the company’s stock valued at $41,000 after buying an additional 236 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Boyd Gaming during the 4th quarter valued at about $50,000. Finally, Allworth Financial LP increased its stake in Boyd Gaming by 3,333.3% in the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 76.81% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Raymond James assumed coverage on Boyd Gaming in a research report on Tuesday, May 21st. They set an “outperform” rating and a $67.00 target price for the company. Mizuho decreased their target price on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Argus lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. StockNews.com lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, Barclays decreased their target price on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.92.
Get Our Latest Analysis on Boyd Gaming
Boyd Gaming Company Profile
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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