Boyd Family, Other Insiders Dump Casino Stock

Members of the Boyd fellowship and other high-ranking executives at Boyd Gaming (NYSE: BYD) experience late been merchandising shares of the gambling casino stock.

Since February 20, Boyd insiders including Chairman Emeritus Bill Boyd — boy of the company’s founding father Sam Boyd — and CEO Keith Ian Smith sold or so $53.4 meg worth of the Orleans operator’s shares. That works come out to be most 3.2% of the company’s current marketplace capitalization of $6.09 billion. Shares of the regional casino manipulator are cancelled 5.33% over the past tense month.

According to a series of Form 4 filings with the Securities and Exchange Commission (SEC), Bill Boyd sold 500,000 shares of the gaming company from Mar 6 through Mar 11, grossing more than $32 one thousand thousand inwards proceeds in the process.

He officially left wing Boyd’s board of directors cobbler's last May. Thanks to the California, Fremont Hotel & Casino, and Main Street Station, Boyd is the dominant operator inwards downtown Las Vegas. Its other Sin City venues include the Gold Coast, Orleans, Sam’s Town, and Suncoast.

Other Boyd Insiders Trim Stakes, Too

Marianne Boyd President Andrew Johnson succeeded Bill Boyd as executive chairman of the gambling casino companion and she too has been a recent trafficker of the stock. SEC filings show that on Feb. 20 she sold 100,000 shares, garnering $6.46 zillion in 144 proceeds.

On Feb. 28 and Feb. 29, President and CEO Keith Kate Smith sold a come of 100,000 Boyd shares inward two transactions, reaping nearly $6.4 jillion in 144 proceeds along the way.

Insider marketing at Boyd arrived as similar activity is taking position at other gaming companies. For example, recent SEC filings confirm some Wynn Resorts (NASDAQ: WYNN) executives experience trimmed their exposure to that company’s shares, though inwards modest fashion.

Other insider selling at Boyd include moves past Director Thoman Randall (2,500 shares sold) and Chief Administrative Officer Sir Leslie Stephen Thompson (20,000 shares sold). Those transactions occurred on Mar 7 and Mar 5, respectively.

Vice President William Boyd dumped 50,000 shares for $3.2 gazillion on Feb. 28. The next day, CFO Josh Hirsberg sold 22,654 shares.

Boyd Still Supportive of Shareholders

Regulatory filings disclosing insider buying and selling don’t include reasons why those directors and executives are piquant in those transactions. In the case of Boyd Gaming, the big amount of insider marketing inward a condensed timeframe mightiness be cause for alarm system for some investors.

Still, the gaming company has displayed signs of commitment to shareholder rewards. group A dividend increase announcement in conclusion month was the operator’s endorsement in as many years and it repurchased $100 one thousand thousand inward shares of its vulgar inventory inward the 4th quarter. It has $326 million left on a antecedently proclaimed buyback program.

Of the 14 sell-side analysts cover Boyd, vii grade it “strong buy” or “buy” and another hexad grade it “hold.” The consensus toll place of $76.17 implies upside of 20.31% from today’s close.

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