LAS VEGAS—William R. Boyd, a director at Boyd Gaming Corp (NYSE: (SZ:)), just lately bought a good portion of his holdings within the firm. In keeping with a latest SEC submitting, Boyd bought a complete of 100,000 shares over two days, amounting to roughly $7.06 million.
The primary transaction happened on October 30, when Boyd bought 74,845 shares at a weighted common value of $70.97, totaling about $5.31 million. The shares had been bought in a number of trades with costs starting from $70.50 to $71.83. Following this transaction, Boyd held 1,513,125 shares not directly via a belief.
On the next day, October 31, Boyd bought an extra 25,155 shares at a weighted common value of $69.35, producing proceeds of roughly $1.74 million. These shares had been additionally bought in a number of trades, with costs starting from $69.25 to $70.05. After this transaction, Boyd’s oblique holdings stood at 1,487,970 shares.
The transactions had been executed via the William R. Boyd Gaming Properties Belief, the place Boyd serves as trustee, settlor, and beneficiary. Boyd Gaming Corp, headquartered in Las Vegas, operates a wide range of gaming and leisure properties throughout the US.
In different latest information, Boyd Gaming Company reported substantial monetary progress in its third-quarter earnings name, emphasizing its profitable property-level margins, sturdy market developments in Southern Nevada, and vital progress on numerous enlargement plans. Key takeaways embrace property-level margins exceeding 39%, file efficiency from the Midwest and South phase, notably from Treasure Chest On line casino, and a projected enhance in EBITDAR steerage as a result of on-line phase’s partnership with FanDuel. Growth plans embrace the Sky River Growth, Cadence Crossing On line casino, and a Norfolk, Virginia on line casino.
The corporate additionally repurchased $202 million in inventory and plans to proceed a $100 million quarterly share repurchase program whereas sustaining a leverage ratio of two.5 instances. Capital expenditures for 2024 are estimated at $400 million to $425 million. The corporate’s future outlook focuses on disciplined progress and operational effectivity, with a projection of the net phase’s EBITDA for 2024 at $105 million.
These are latest developments, and whereas EBITDAR margins are barely down from 50% to 49% in comparison with the earlier 12 months, the corporate’s diversification methods, together with latest acquisitions, are yielding optimistic outcomes. The corporate’s enlargement plans, notably in Virginia, and its partnership with FanDuel, are anticipated to contribute considerably to future progress.
InvestingPro Insights
Whereas William R. Boyd’s latest sale of 100,000 shares in Boyd Gaming Corp (NYSE:BYD) may elevate eyebrows, a better take a look at the corporate’s financials and market efficiency reveals a extra nuanced image.
In keeping with InvestingPro information, BYD’s market capitalization stands at $6.29 billion, with a price-to-earnings ratio of 13.15. This comparatively modest P/E ratio means that the inventory could also be moderately valued in comparison with its earnings. Furthermore, the corporate’s income for the final twelve months as of Q3 2024 was $3.84 billion, with a wholesome gross revenue margin of 61.85%.
InvestingPro Suggestions spotlight that BYD has been delivering sturdy returns, with a 19.17% value whole return over the previous three months and a powerful 29.47% during the last six months. This sturdy efficiency aligns with the corporate’s strong monetary metrics and will clarify why the inventory is buying and selling at 95.04% of its 52-week excessive.
It is price noting that 13 analysts have revised their earnings upwards for the upcoming interval, indicating optimistic sentiment about BYD’s future prospects. This optimism is additional supported by the corporate’s profitability during the last twelve months and analysts’ predictions of continued profitability this 12 months.
For traders looking for extra complete insights, InvestingPro provides 7 extra suggestions that would present worthwhile context to Boyd’s inventory sale and the corporate’s total monetary well being.
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