Elliott takes 4.99% stake in Boyd Gaming; shares +5.1% AH

Activist investor Elliott Management discloses it owns 5.38M Boyd (BYD) shares, good for a 4.99% stake. The firm also says it has "economic exposure to approximately 2.05% of the shares of Common Stock outstanding pursuant to Derivative Agreements."  (13D)

Elliott has a long track record of mounting activist campaigns in which it calls for a company to make big changes and/or put itself on sale.

From other sites
Comments (2)
  • fuzzymc
    , contributor
    Comments (198) | Send Message
    Former owner of BYD shares I believe they sold the best asset they owned, that being the former stardust property on the vegas strip. Don't see a lot of value in the rest of their holdings!
    10 Mar 2014, 07:24 PM Reply Like
  • Tman53
    , contributor
    Comments (22) | Send Message
    You forget that in 2006-7 the stock was as high as $56 a share. Elliott is brilliant at extracting value. Look at Penn's REIT split, this is likely where BYD is headed. Morgan Stanley feels If they do so, the stock is then valued somewhere between $16 and $26. With economic recover is pretty much full swing by Q4/14 locals will spend more, hence improved business and stock growth. You sold way too early.
    11 Mar 2014, 06:15 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs