Chief Operating Officer Theodore Bogich Sold A Bunch Of Shares In Boyd Gaming

Some Boyd Gaming Corporation (NYSE:BYD) shareholders may be a little concerned to see that the Chief Operating Officer, Theodore Bogich, recently sold a substantial US$1.4m worth of stock at a price of US$83.18 per share. That sale reduced their total holding by 27% which is hardly insignificant, but far from the worst we've seen.

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Boyd Gaming Insider Transactions Over The Last Year

In the last twelve months, the biggest single sale by an insider was when the Executive Chairman, Marianne Johnson, sold US$7.7m worth of shares at a price of US$77.68 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$83.30. 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. We note that the biggest single sale was only 0.9% of Marianne Johnson's holding.

Boyd Gaming insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

See our latest analysis for Boyd Gaming

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Insider Ownership

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Boyd Gaming insiders own 27% of the company, currently worth about US$1.8b based on the recent share price. 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?

Insiders haven'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. But since Boyd Gaming is profitable and growing, we're not too worried by this. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. While conducting our analysis, we found that Boyd Gaming has 2 warning signs and it would be unwise to ignore these.

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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 of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.