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)

Comments
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

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations 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!