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LAS VEGAS—William R. Boyd, a director at Boyd Gaming Corp . (NYSE:BYD), recently sold a substantial amount of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions, executed over two days, involved the sale of a total of 100,000 shares in the $5.75 billion market cap casino operator, which has delivered an impressive 32.4% return over the past year.
On May 1, Boyd sold 60,960 shares at an average price of $69.57, while on May 2, he sold an additional 39,040 shares at an average price of $69.61. The combined transactions amounted to approximately $6.96 million. According to InvestingPro data, the stock currently trades near its Fair Value, with a P/E ratio of 11.5x and impressive gross profit margins of 61.6%.
Following these sales, Boyd retains ownership of 1,680,447 shares indirectly through the William R. Boyd Gaming Properties Trust, where he serves as trustee, settlor, and beneficiary. Additionally, he holds 25,393 shares directly and 41,552 shares indirectly through another trust.
These transactions were executed at prices ranging from $69.50 to $69.70 on May 1 and $69.50 to $69.75 on May 2, reflecting the weighted average sale prices.
In other recent news, Boyd Gaming Corporation reported strong financial results for the first quarter of 2025, surpassing both earnings and revenue forecasts. The company achieved an earnings per share (EPS) of $1.62, exceeding the expected $1.55, and reported revenues of nearly $1 billion, higher than the projected $977.18 million. Following this announcement, Mizuho (NYSE:MFG) Securities raised Boyd Gaming’s stock price target to $86 from $83, maintaining an Outperform rating. Analyst Ben Chaiken highlighted that Boyd Gaming’s business trends remained stable, with segments like the Downtown and Midwest and South outperforming expectations.
During the quarter, Boyd Gaming repurchased $328 million worth of shares, amounting to 4.5 million shares, reflecting its strong balance sheet and commitment to shareholder returns. The company also emphasized its strategic property developments and online segment growth as key performance drivers. Despite facing weather-related disruptions impacting results by $5 million, Boyd Gaming maintained strong property level margins at 40%. Looking ahead, the company is focused on projects like the Cadence Crossing Casino (EPA:CASP) in Las Vegas and a $750 million resort project in Norfolk, VA, while continuing a $100 million quarterly share repurchase program.
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