Have Insiders Sold Boyd Gaming Shares Recently?

Some Boyd Gaming Corporation (NYSE:BYD) shareholders may be a little concerned to see that the VP & Director, William Boyd, recently sold a substantial US$7.1m worth of stock at a price of US$70.56 per share. However, it's crucial to note that they remain very much invested in the stock and that sale only reduced their holding by 6.1%.

See our latest analysis for Boyd Gaming

Boyd Gaming Insider Transactions Over The Last Year

Notably, that recent sale by Chairman Emeritus William Boyd was not the only time they sold Boyd Gaming shares this year. They previously made an even bigger sale of -US$16m worth of shares at a price of US$63.78 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$68.66. 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. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was just 1.8% of William Boyd's stake.

In the last year Boyd Gaming insiders didn't buy any company stock. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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Insider Ownership

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. Boyd Gaming insiders own 25% of the company, currently worth about US$1.6b based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

What Might The Insider Transactions At Boyd Gaming Tell Us?

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. 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. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Boyd Gaming. At Simply Wall St, we found 3 warning signs for Boyd Gaming that deserve your attention before buying any shares.

Of course Boyd Gaming may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

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.