Boyd Gaming (BYD) Soars 4.31% in Four Days, Mizuho Lowers Target

Boyd Gaming Corporation (BYD) shares rose 0.49% today, marking the fourth consecutive day of gains, with a total increase of 4.31% over the past four days. The share price reached its highest level since March 2025, with an intraday gain of 0.75%.

The strategy of buying BYD shares after they reach a recent high and holding for one week yielded a 59.50% return, slightly outperforming the benchmark return of 56.94% over the past five years. The excess return was 2.56%, with a CAGR of 21.05%. The strategy had a Sharpe ratio of 0.77, indicating a reasonable risk-adjusted return. However, it also experienced a maximum drawdown of -24.35% and a volatility of 27.25%, reflecting the risk associated with such a strategy.

Mizuho has adjusted its price target for Boyd Gaming, lowering it from $86.00 to $83.00 while maintaining an "outperform" rating. This adjustment from a research firm indicates a slightly less optimistic outlook on the stock, which could influence investor sentiment and stock price.

Boyd Gaming has seen a significant decrease in short interest by 22.26%, which suggests improved investor confidence in the company's performance. A decrease in short interest typically reflects a more positive outlook from investors, potentially impacting the stock price favorably.