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

Boyd Gaming Co. (NYSE:BYD) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 6,850,900 shares, a growth of 15.1% from the May 15th total of 5,953,000 shares. Currently, 8.5% of the company’s stock are short sold. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is currently 5.9 days.

NYSE BYD opened at $26.43 on Friday. The business’s fifty day simple moving average is $26.23. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 4.08. Boyd Gaming has a fifty-two week low of $18.98 and a fifty-two week high of $39.35. The company has a market capitalization of $2.93 billion, a PE ratio of 19.43, a PEG ratio of 0.74 and a beta of 2.13.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The company had revenue of $827.30 million during the quarter, compared to analysts’ expectations of $826.52 million. During the same period in the prior year, the company earned $0.39 EPS. Boyd Gaming’s revenue was up 36.5% compared to the same quarter last year. On average, equities research analysts expect that Boyd Gaming will post 1.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.06%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming’s dividend payout ratio is presently 21.05%.

BYD has been the topic of several analyst reports. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday. Wolfe Research assumed coverage on Red Rock Resorts in a research report on Friday, June 14th. They set a “peer perform” rating on the stock. Morgan Stanley set a $10.00 target price on Ford Motor and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, TheStreet downgraded AMERCO from a “b” rating to a “c+” rating in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.11.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Boyd Gaming by 3.6% in the fourth quarter. BlackRock Inc. now owns 10,077,493 shares of the company’s stock valued at $209,410,000 after purchasing an additional 353,720 shares during the period. FMR LLC grew its holdings in Boyd Gaming by 20.0% during the 1st quarter. FMR LLC now owns 7,182,207 shares of the company’s stock worth $196,506,000 after acquiring an additional 1,198,851 shares during the period. Valinor Management L.P. grew its holdings in Boyd Gaming by 5.7% during the 4th quarter. Valinor Management L.P. now owns 2,701,900 shares of the company’s stock worth $56,146,000 after acquiring an additional 146,600 shares during the period. Millennium Management LLC grew its holdings in Boyd Gaming by 107.7% during the 4th quarter. Millennium Management LLC now owns 1,708,895 shares of the company’s stock worth $35,511,000 after acquiring an additional 886,019 shares during the period. Finally, Pinnacle Associates Ltd. grew its holdings in Boyd Gaming by 19.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,318,599 shares of the company’s stock worth $36,077,000 after acquiring an additional 213,855 shares during the period. Institutional investors and hedge funds own 66.26% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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