Elliott Management Wagers on Boyd Gaming Corp. (BYD)

In a 13D filing with the SEC, activist investor Paul Singer‘s Elliott Associates disclosed holding 5.4 million shares of Boyd Gaming Corp. (NYSE:BYD). This is a new position, and amounts to just less than a 5% stake (4.99%, to be exact) in the gaming company.

Paul Singer ELLIOTT MANAGEMENT

Other ‘hedgies’, increasing their holdings in Boyd Gaming Corp. (NYSE:BYD), during the fourth quarter of 2013, include Paul Reeder and Edward Shapiro of PAR Capital Management, Rehan Jaffer of H Partners Management, David Shaw of D E Shaw and Mario Gabelli of GAMCO Investors. In addition, Daniel Och of OZ Management and Andrew Feldstein / Stephen Siderow of Blue Mountain Capital reported new positions in the company.

Boyd Gaming Corp. (NYSE:BYD) is a $1.3 billion market cap company that operates gaming entertainment properties in Nevada, Illinois, Louisianan, Mississippi, Indiana and New Jersey. It has been a strong stock, appreciating 62% over the past 12 months before today’s disclosure. Despite headwinds from the severe winter weather affecting its casino operations in New Jersey, prospects for the company have improved following New Jersey’s move to allow online gambling last year, which could open the door for other states to follow suit. Two of Boyd Gaming Corp. (NYSE:BYD)’s websites have received approval from the New Jersey Division of Gaming Enforcement to accept wagers in the state.

The largest position in Elliot Management’s equity portfolio is energy company Hess Corp. (NYSE:HES), in which it owns 17.1 million shares worth $1.4 billion. Second on the list is 10.8 million shares of technology firm NetApp, Inc. (NASDAQ:NTAP) valued at $442.3 million, followed by Twenty-First Century Fox, Inc. (NASDAQ:FOX), in which Elliot owns 11.4 million shares worth $394.4 million.

Disclosures: none

Recommended reading:

Hedge Fund News: Carl Icahn, John Paulson & Paul Singer

Elliott Management Nominates Directors to Juniper Networks (JNPR)’s Board

Paul Singer’s Elliott Management Raises Stake in Compuware Corporation (CPWR)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!