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No insider purchase over the last 90 days. The latest was filed 02 Sept 2022.
Boyd Gaming Corp: what insiders have been doing
This page follows insider dealings at Boyd Gaming Corp as filed with SEC (Form 4), a company from the Retail sector based in Paradise, United States. The group dates from 1941. Between 18 October 2025 and 18 October 2026, 14 insiders published 27 filings.
There is no open-market purchase to report; the filings show 10 sales worth €20.6M by 7 insiders. The totals exclude 1 filing filed without an amount. The largest single trade was a sale of €7.4M by Smith Keith, published on 4 June 2026, equal to 0.11% of the market capitalisation.
Across the 5,814 companies tracked on its exchange, the median is 19 filings; at 27 filings, this issuer sits above that mark. Looking back to 2016, when coverage begins, insiders filed 2 purchases and 84 sales. For the fiscal year to 31 December 2025, the annual 10-K puts revenue at 4.09 bn USD and net income at 1.84 bn USD, and the dividend at 0.72 USD per share.
Filings reach the SEC (Form 4) feed a median of 2 days after the trade. Section 16 rules allow two business days to file each Form 4. A sale on its own says little: insiders also sell to pay tax, fund a purchase or diversify.
In the same sector, recent insider purchases at GameStop Corp. and Dick's Sporting Goods, Inc. also feature in our signals. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
Insider Decl.
283
Thresholds
n/a
Buy Volume
€8,849
2 ops. · all time
Sell Volume
€220M
84 ops. · all time
Who traded when
BuySaleKeith Smith6 sales
Marianne Boyd Johnson6 sales
Boyd William R5 sales
Christine J. Spadafor4 sales
Uri Clinton3 sales
Bogich Ted2 sales
+2 other insiders
Since the insiders bought
- -16.8%Entry US$61.77 · Close at T+365 US$51.40
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate Boyd Gaming Corp Buy (bullish), based on 16 analysts. Average price target: US$93.94.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 309 of 24,148 companies
86.1
score / 100
Value89
Quality83
FCF yld6.0%
Earn yld36%
EV/EBITDA2.8x
ROE93%
Gross mgn50%
Net mgn45%
Debt/EBITDA1.0x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$69.70
Analyst consensus
16 analystsBuy
US$78.00Target US$93.94(+35%)US$111.00
Income statement
RevenueUS$4.1B
Gross profitUS$2B50% margin
EBITDAUS$2.8B68% margin
Net incomeUS$1.8B44.3% margin
Valuation
PER (trailing)3.0x
PER (forward)9.1x
P/Book2.0x
Beta1.13
Balance sheet & cash
Market capUS$5.1B
Total debtUS$2.7B
Free Cash FlowUS$303.5M
Debt / Equity130%
Profitability & ownership
ROE93.1%
ROA7.8%
% insiders32.0%
% institutions76.0%
Last declaration on 26 August 2026
Declarations283 total
12 shares@ US$82.000.0000% mcap0.0% of flowCommon StockSEC:0000906553-26-000066:0
12 shares@ US$81.55920.0000% mcap0.0% of flowCommon StockSEC144:0001989586-26-000004
12,777 shares@ US$86.180.021% mcap14.1% of flowCommonSEC144:0001959173-26-005397
12,777 shares@ US$89.760.022% mcap14.7% of flowCommon StockSEC:0000906553-26-000064:0
2,043 shares0Common StockSEC:0000906553-26-000062:0
2,043 shares0Common StockSEC:0000906553-26-000060:0
30,351 sharesCommon StockSEC:0000906553-26-000058:0
30,823 sharesCommon StockSEC:0000906553-26-000058:1
3,468 shares@ US$87.6901100.0% of flowCommonSEC144:0001950047-26-005813
3,468 sharesCommon StockSEC:0000906553-26-000056:0
12,777 shares@ US$87.780.017% mcap14.1% of flowCommonSEC144:0001959173-26-004396
100,000 shares@ US$85.900.11% mcap44.5% of flowCommon StockSEC:0000906553-26-000054:0
100,000 shares@ US$82.47100.0% of flowCommonSEC144:0001969223-26-000626
1,237 shares@ US$80.910.0015% mcap100.0% of flowCommon StockSEC:0000906553-26-000052:0
62,914 shares@ US$84.030.069% mcap9.7% of flowCommon StockSEC:0000906553-26-000035:1
37,086 shares@ US$85.270.041% mcap5.8% of flowCommon StockSEC:0000906553-26-000035:0
23,924 shares@ US$17.755.2% of flowCommon StockSEC:0000906553-26-000031:0
19,530 shares@ US$83.5933.3% of flowCommon StockSEC:0000906553-26-000033:0
35,608 shares0Common StockSEC:0000906553-26-000029:0
11,869 shares0Common StockSEC:0000906553-26-000025:0
15,798 shares0Common StockSEC:0000906553-26-000023:0
8,953 shares0Common StockSEC:0000906553-26-000020:0
42,730 shares0Common StockSEC:0000906553-26-000019:0
16,024 shares0Common StockSEC:0000906553-26-000027:0
1,335 shares0Common StockSEC:0000906553-26-000022:0
25 of 283 declarations
About Boyd Gaming Corp
Boyd Gaming Corp. (NYSE: BYD) is a United States-based gaming and entertainment operator listed on the NYSE. Founded in 1975 and headquartered in Las Vegas, Nevada, the company has built a geographically diversified portfolio of gaming assets over several decades. For French-speaking investors, Boyd Gaming is best understood as a regional casino operator with an increasingly meaningful digital layer, combining brick-and-mortar casinos, online gaming, and management-related activities.
The company operates through several complementary segments. Its core business remains the ownership and operation of casinos and resorts across regional U.S. markets, rather than a pure destination-only model. Boyd has stated that it operates 27 gaming entertainment properties in 11 states, underscoring a strategy centered on local and regional customer bases. This footprint supports recurring visitation, strong loyalty economics, and a diversified revenue base that is less dependent on a single geography or one flagship property.
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Beyond traditional casinos, Boyd Gaming has developed an Online segment that includes Boyd Interactive and third-party market-access arrangements in the United States. This online platform gives the group exposure to digital casino gaming and broader iGaming economics, while still keeping the company anchored in its physical property network. Boyd also reports a Managed & Other category, which includes management fees from contracted operations and its Illinois distributed gaming business. That additional layer gives the group some incremental earnings diversification.
From a competitive standpoint, Boyd Gaming is differentiated by its focus on regional gaming markets, disciplined operating execution, and a long-standing track record in the sector. Recent company commentary has highlighted strong property-level margins, solid operating efficiency, and a well-capitalized balance sheet. Boyd also emphasizes ongoing capital investment across its portfolio, which helps refresh the customer offer, support visitation, and improve long-term asset quality.
Recent developments are important for the investment case. In July 2025, Boyd announced an agreement to sell its 5% equity stake in FanDuel for $1.755 billion, a major transaction that materially strengthened balance-sheet flexibility and reduced complexity in the company’s equity holdings. In first-quarter 2026 results, management said it opened Cadence Crossing Casino, its newest Las Vegas Locals property, while continuing development of a $750 million resort in Virginia. These actions suggest a strategy focused on disciplined growth, portfolio upgrading, and capital returns rather than aggressive balance-sheet expansion.
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