We wouldn't blame Boyd Gaming Corporation (NYSE:BYD) shareholders if they were a little worried about the fact that Theodore Bogich, the Executive Vice President of Operations recently netted about US$1.0m selling shares at an average price of US$27.39. That sale reduced their total holding by 40% which is hardly insignificant, but far from the worst we've seen.
Boyd Gaming Insider Transactions Over The Last Year
The VP & Director, William Boyd, made the biggest insider sale in the last 12 months. That single transaction was for US$2.4m worth of shares at a price of US$24.19 each. That means that an insider was selling shares at slightly below the current price (US$27.30). We generally consider it a negative if insiders have been selling, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. It is worth noting that this sale was only 4.3% of William Boyd's holding.
Over the last year, we note insiders sold 241601 shares worth US$5.9m. Insiders in Boyd Gaming didn't buy any shares in the last year. The chart below shows insider transactions (by individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Boyd Gaming insiders own about US$704m worth of shares (which is 23% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
So What Do The Boyd Gaming Insider Transactions Indicate?
An insider hasn't bought Boyd Gaming stock in the last three months, but there was some selling. Looking to the last twelve months, our data doesn't show any insider buying. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. Of course, the future is what matters most. So if you are interested in Boyd Gaming, you should check out this free report on analyst forecasts for the company.
But note: Boyd Gaming may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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If you spot an error that warrants correction, please contact the editor at email@example.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.