{"id":313886,"date":"2024-03-12T15:25:23","date_gmt":"2024-03-12T20:25:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=313886"},"modified":"2024-03-13T12:02:53","modified_gmt":"2024-03-13T17:02:53","slug":"boyd-gaming-insiders-selling-a-lot-of-company-stock","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/","title":{"rendered":"Boyd Family, Other Insiders Dump Casino Stock"},"content":{"rendered":"

Members of the Boyd family and other high-ranking executives at Boyd Gaming (NYSE: BYD) have recently been selling shares of the casino stock.<\/p>\n

\"regional
Boyd Gaming’s Orleans Hotel & Casino in Las Vegas. Insiders at the company, including members of the Boyd family, have been selling stock. (Image: YouTube)<\/figcaption><\/figure>\n

Since February 20, Boyd insiders, including Chairman Emeritus Bill Boyd — son of the company\u2019s founder Sam Boyd — and CEO Keith Smith sold approximately $53.4 million worth of the Orleans operator\u2019s shares. That works out to be about 3.2% of the company\u2019s current market capitalization of $6.09 billion. Shares of the regional casino operator are off 5.33% over the past month.<\/p>\n

\n

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 March 6 through March 11, grossing more than $32 million in proceeds in the process.<\/p>\n<\/div>\n

He officially left Boyd\u2019s board of directors last May. Thanks to the California, Fremont Hotel & Casino, and Main Street Station, Boyd is the dominant operator in downtown Las Vegas<\/a>. Its other Sin City venues include the Gold Coast, Orleans, Sam\u2019s Town, and Suncoast.<\/p>\n

Other Boyd Insiders Trim Stakes, Too<\/h2>\n

Marianne Boyd Johnson succeeded Bill Boyd as executive chairman of the casino company. She, too, has been a recent seller of the stock. SEC filings indicate that on Feb. 20, she sold 100,000 shares, garnering $6.46 million in gross proceeds.<\/p>\n

On Feb. 28 and Feb. 29, President and CEO Keith Smith sold a total of 100,000 Boyd shares in two transactions, reaping about $6.4 million in gross proceeds along the way.<\/strong><\/p>\n

Insider selling at Boyd arrived as similar activity is taking place at other gaming companies. For example, recent SEC filings confirm some Wynn Resorts (NASDAQ: WYNN)<\/a> executives have trimmed their exposure to that company\u2019s shares, though in modest fashion.<\/p>\n

Other insider selling at Boyd include moves by Director Thoman Randall (2,500 shares sold) and Chief Administrative Officer Stephen Thompson (20,000 shares sold). Those transactions occurred on March 7 and March 5, respectively.<\/p>\n

Vice President William Boyd dumped 50,000 shares for $3.2 million on Feb. 28. The next day, CFO Josh Hirsberg sold 22,654 shares.<\/p>\n

Boyd Still Supportive of Shareholders<\/h2>\n

Regulatory filings disclosing insider buying and selling don\u2019t include reasons why those directors and executives are engaging in those transactions. In the case of Boyd Gaming, the large amount of insider selling in a condensed time frame might be cause for alarm for some investors.<\/p>\n

Still, the gaming company has displayed signs of commitment to shareholder rewards. A dividend increase announcement<\/a> last month was the operator\u2019s second in as many years, and it repurchased $100 million in shares of its common stock in the fourth quarter. It has $326 million left on a previously announced buyback program.<\/p>\n

Of the 14 sell-side analysts covering Boyd, seven rate it \u201cstrong buy\u201d or \u201cbuy,\u201d and another six rate it \u201chold.\u201d The consensus price target of $76.17 implies upside of 20.31% from today\u2019s close.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Members of the Boyd family and other high-ranking executives at Boyd Gaming (NYSE: BYD) have recently been selling shares of the casino stock. Since February 20, Boyd insiders, including Chairman Emeritus Bill Boyd — son of the company\u2019s founder Sam Boyd — and CEO Keith Smith sold approximately $53.4 million worth of the Orleans operator\u2019s […]<\/p>\n","protected":false},"author":46,"featured_media":262635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,81886],"tags":[81903,81898,23],"acf":[],"yoast_head":"\nBoyd Gaming Insiders Selling A Lot Of Company Stock<\/title>\n<meta name=\"description\" content=\"Boyd Family, Other Insiders Dump Casino Stock.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boyd Gaming Insiders Selling A Lot Of Company Stock\" \/>\n<meta property=\"og:description\" content=\"Boyd Family, Other Insiders Dump Casino Stock.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-12T20:25:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-13T17:02:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/orleans-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/\",\"url\":\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/\",\"name\":\"Boyd Gaming Insiders Selling A Lot Of Company Stock\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/orleans-2.jpg\",\"datePublished\":\"2024-03-12T20:25:23+00:00\",\"dateModified\":\"2024-03-13T17:02:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Boyd Family, Other Insiders Dump Casino Stock.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-insiders-selling-a-lot-of-company-stock\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/orleans-2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/orleans-2.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Boyd Gaming's Orleans Hotel & Casino. 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