Boyd Gaming Insider Sells $8.42M Worth of Stock, Analysts Weigh In

Marianne Boyd Johnson, Executive Chairman of Boyd Gaming, has sold 100,000 shares of the company's stock worth $8.42M. The transaction is reported by the SEC. Boyd Gaming operates in various states and has shown significant revenue growth, with a gross margin of 50.97% and EPS of 1.84. The company's debt-to-equity ratio is below industry average, and its P/E, P/S, and EV/EBITDA ratios suggest potential undervaluation. However, insider transactions should not be the sole basis for investment decisions.

Marianne Boyd Johnson, Executive Chairman of Boyd Gaming Corp (NYSE:BYD), sold 100,000 shares of the company's stock worth $8.42M on August 13, 2025, according to a Form 4 filing with the Securities and Exchange Commission [1]. The transaction occurred as Boyd Gaming trades near its 52-week high of $87.76, having delivered an impressive 50.64% return over the past year. The shares were sold at a weighted average price of $84.17, for a total transaction value of $8,417,000. Prices for the sales ranged from $83.84 to $84.43.

Following the transaction, Johnson continues to hold shares indirectly through several trusts, limited liability companies, and a limited partnership. These include 1,504,379 shares held by the Marianne Boyd Johnson Gaming Properties Trust, 4,800,000 shares held by WSB-BYD, LLC, 25,555 shares held by the Justin Boyd Education Trust Dated 11/1/99, 90,964 shares held by the Johnson Children’s Trust Dated 6/24/96, 2,387,949 shares held by BG-00 Limited Partnership, 1,100,000 shares held by BG-SUB, LLC, and 4,004,000 shares held by BYD-SST LLC. Johnson also directly owns 39,088 shares.

Boyd Gaming Corp operates in various states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company's revenue growth over a period of 3 months has been noteworthy, achieving a revenue growth rate of approximately 6.87% as of 30 June, 2025 [2]. The company maintains a high gross margin of 50.97%, indicating strong cost management and profitability compared to its peers. Boyd Gaming's EPS outshines the industry average, indicating a strong bottom-line trend with a current EPS of 1.84.

The company's debt-to-equity ratio is below the industry average, with a ratio of 3.06, indicating that Boyd Gaming relies less on debt financing, maintaining a healthier balance between debt and equity. The Price to Earnings (P/E) ratio of 13.0 is lower than the industry average, indicating potential undervaluation for the stock. The Price to Sales (P/S) ratio of 1.81 also suggests potential undervaluation, making it an appealing investment option for those focusing on sales performance. Boyd Gaming's EV/EBITDA ratio at 8.8 suggests potential undervaluation, falling below industry averages.

While insider transactions can provide valuable insights, they should not be the sole basis for investment decisions. Insider selling can be driven by various factors and does not always signal a bearish sentiment. Investors should consider a broader range of factors when making investment decisions.

References:
[1] https://www.investing.com/news/insider-trading-news/boyd-gaming-executive-chairman-sells-84-million-in-stock-93CH-4194343
[2] https://www.benzinga.com/insights/news/25/08/47158414/insider-decision-marianne-boyd-johnson-offloads-8-42m-worth-of-boyd-gaming-stock