Boyd Gaming Corporation (NYSE:BYD) Sees Significant Growth in Short Interest

Boyd Gaming Corporation (NYSE:BYD) was the target of a large increase in short interest in the month of 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. Based on an average trading volume of 750,277 shares, the short-interest ratio is currently 4.3 days. Currently, 5.3% of the shares of the company are short sold. Currently, 5.3% of the shares of the company are short sold. Based on an average trading volume of 750,277 shares, the short-interest ratio is currently 4.3 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BYD shares. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday. Wells Fargo & Company started coverage on shares of Boyd Gaming in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $85.00 price target on the stock. Zacks Research downgraded shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. UBS Group set a $110.00 target price on Boyd Gaming in a research report on Wednesday, December 24th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Boyd Gaming currently has an average rating of “Hold” and a consensus price target of $91.08.

Boyd Gaming Price Performance

Shares of BYD traded down $0.50 during trading hours on Wednesday, hitting $85.36. 174,311 shares of the company were exchanged, compared to its average volume of 989,674. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. Boyd Gaming has a fifty-two week low of $58.94 and a fifty-two week high of $88.49. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 3.73, a P/E/G ratio of 2.30 and a beta of 1.24. The firm’s fifty day moving average is $82.00 and its 200 day moving average is $82.72.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The business had revenue of $707.32 million during the quarter. On average, equities analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Boyd Gaming’s payout ratio is 3.15%.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the transaction, the director directly owned 1,960,447 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. 21.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP raised its stake in Boyd Gaming by 109.9% during the third quarter. Hudson Bay Capital Management LP now owns 261,423 shares of the company’s stock worth $22,600,000 after acquiring an additional 136,887 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Boyd Gaming by 612.9% during the 3rd quarter. Allworth Financial LP now owns 998 shares of the company’s stock valued at $86,000 after purchasing an additional 858 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of Boyd Gaming during the 3rd quarter valued at approximately $225,000. Penn Capital Management Company LLC increased its position in Boyd Gaming by 0.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 162,751 shares of the company’s stock worth $14,086,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Boyd Gaming in the 3rd quarter valued at approximately $94,000. Institutional investors own 76.81% of the company’s stock.

About Boyd Gaming

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.