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Morgan Stanley gives an Overweight recommendation for Boyd Gaming Corp (BYD)

Boyd Gaming Corp’s filing revealed that its Director BOYD WILLIAM S acquired Company’s shares for reported $11.0 million on Nov 08 ’24. In the deal valued at $73.33 per share,150,000 shares were bought.

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Then, Hirsberg Josh sold 21,549 shares, generating $1,539,245 in total proceeds. Upon selling the shares at $71.43, the CFO & Treasurer now owns 438,615 shares.

Before that, BOYD WILLIAM S bought 150,000 shares. Boyd Gaming Corp shares valued at $10,889,187 were divested by the Director at a price of $72.59 per share.

Morgan Stanley upgraded its Boyd Gaming Corp [BYD] rating to an Overweight from a an Equal-weight in a research note published on September 04, 2024; the price target was increased to $74 from $66. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in late May with a ‘”an Outperform”‘ rating. Argus also remained covering BYD and has decreased its forecast on May 01, 2024 with a “Hold” recommendation from previously “Buy” rating. JP Morgan revised its rating on April 26, 2024. It rated BYD as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of BYD

On Monday, Boyd Gaming Corp [NYSE:BYD] saw its stock jump 0.64% to $74.14. Over the last five days, the stock has gained 8.53%. Boyd Gaming Corp shares have risen nearly 18.42% since the year began. Nevertheless, the stocks have risen 31.34% over the past one year. While a 52-week high of $73.75 was reached on 11/11/24, a 52-week low of $49.34 was recorded on 05/29/24. SMA at 50 days reached $64.95, while 200 days put it at $60.66.

Levels Of Support And Resistance For BYD Stock

The 24-hour chart illustrates a support level at 73.74, which if violated will result in even more drops to 73.34. On the upside, there is a resistance level at 74.66. A further resistance level may holdings at 75.18. The Relative Strength Index (RSI) on the 14-day chart is 73.53, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.52, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.60%. Stochastics %K at 94.67% indicates the stock is a selling.

How much short interest is there in Boyd Gaming Corp?

A steep rise in short interest was recorded in Boyd Gaming Corp stocks on 2024-10-15, dropping by -0.66 million shares to a total of 3.31 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.98 million shares. There was a decline of -20.01%, which implies that there is a negative sentiment for the stock.

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