Sterne Agee Not Overly Excited About New Activist in Boyd Gaming (BYD)
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Boyd Gaming (BYD) REIT Conversion Now Unlikely Scenario - Janney
March 11, 2014 11:56 AM EDTJanney reaffirms Boyd Gaming (NYSE: BYD) at Neutral with a fair value of $9 following Elliott Associates showing a new 4.99 percent stake in the company.
Analyst Brian McGill commented, Given the recent move higher in the stock, we think shares are now expensive at 9.5x EBITDA. With... More
Elliott Associates Shows New 4.99% Stake in Boyd Gaming Corp. (BYD)
March 10, 2014 5:33 PM EDTIn a 13D filing on Boyd Gaming Corp. (NYSE: BYD), hedge fund Elliott Associates disclosed a 4.99%, or 5,380,000 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending December 31, 2013.
NOTE: Collectively, Elliott, Elliott International and EICA have combined economic exposure and voting power in the Issuer of approximately 7.00% and 4.99%, respectively, of the Common Stock outstanding.
Purpose of Transaction.
The Reporting Persons purchased the securities of the Issuer reported herein based on the Reporting Persons belief that such securities, when purchased, were undervalued and... More
