Boyd Gaming Co. (NYSE:BYD) Short Interest Up 6.1% in June

Boyd Gaming Co. (NYSE:BYDGet Free Report) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 4,190,000 shares, an increase of 6.1% from the May 31st total of 3,950,000 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,874 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total transaction of $100,034.12. Following the sale, the director now owns 2,338 shares of the company’s stock, valued at $124,802.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 28.40% of the stock is currently owned by insiders.

Institutional Trading of Boyd Gaming

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Boyd Gaming by 2.1% during the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock valued at $485,442,000 after acquiring an additional 167,849 shares during the last quarter. Cohen & Steers Inc. boosted its position in Boyd Gaming by 34.4% during the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock valued at $297,270,000 after acquiring an additional 1,216,121 shares during the last quarter. Boston Partners boosted its position in Boyd Gaming by 10.0% during the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after acquiring an additional 274,876 shares during the last quarter. Bamco Inc. NY boosted its position in Boyd Gaming by 4.0% during the first quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock valued at $127,864,000 after acquiring an additional 73,491 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Boyd Gaming by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after purchasing an additional 3,087 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $53.96 on Thursday. The firm has a market cap of $5.12 billion, a PE ratio of 9.69 and a beta of 1.59. Boyd Gaming has a one year low of $49.34 and a one year high of $73.00. The stock’s fifty day moving average price is $53.88 and its two-hundred day moving average price is $60.35. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.80 and a quick ratio of 0.77.

Boyd Gaming (NYSE:BYDGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The company had revenue of $960.52 million during the quarter, compared to analyst estimates of $947.26 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. As a group, research analysts expect that Boyd Gaming will post 6.06 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 15th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

Boyd Gaming announced that its Board of Directors has approved a share buyback plan on Monday, May 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 9.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BYD. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $78.00 to $71.00 in a research note on Friday, April 26th. Morgan Stanley raised their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Argus lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. StockNews.com downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company dropped their price target on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.42.

Check Out Our Latest Stock Analysis on Boyd Gaming

Boyd Gaming Company Profile

(Get Free Report)

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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