Activist Group Led by Luxor Capital Ups Stake in BJ’s Restaurants (BJRI) to 16%

The activist group formed by Christian Leone’s Luxor Capital Group, Patrick Walsch’s PW Partners Atlas Fund and Horizon Capital, led by Jeffrey C. Neal, has raised its aggregate stake to 4.5 million shares, which is equal to 16.0% of BJ’s Restaurants, Inc (NASDAQ:BJRI) common stock. Luxor Capital’s stake remains unchanged at 3.2 million shares, almost 11.3% of the company’s common stock.

Christian Leone

Luxor Capital Group signed an agreement with Patrick Walsch’s PW Partners Atlas Fund and Horizon Capital, led by Jeffrey C. Neal, to seek representation on BJ’s Restaurants, Inc (NASDAQ:BJRI). Earlier the activist group held 4.2 million shares, constituting 14.8% of BJ’s Restaurants, Inc (NASDAQ:BJRI) common stock.

BJ’s Restaurants reported that Luxor Capital partners, LP, in partnership with PW Partners Atlas Fund, intends to nominate five repreentatives to its Board to stand for election at the 2014 Annual Meeting of Shareholders of the company.

BJ’s Restaurants, Inc (NASDAQ:BJRI) owns and operates 147 restaurants spanned across 17 states in the U.S, under the names: BJ’s Restaurant & Brewery BJ’s Restaurant & Brewhouse, BJ’s Pizza & Grill, or BJ’s Grill.

There are other hedge fund managers who’ve been bullish on BJ’s Restaurants, Inc (NASDAQ:BJRI). Citadel Investment Group, managed by Ken Griffin owns approximately 1.20 million shares of the company as at the end of 2013. Steven Cohen’s SAC Capital Advisors position amasses around 511,900 shares of the company; Millennium Management, led by billionaire Israel Englander owns approximately 448,500 shares of the company.

Earlier this month, Luxor Capital sold over 2.0 million shares of William Lyon Homes (NYSE:WLH), reducing its ownership to 6.3 million shares. In March, the fund acquired 383,500 shares, bringing the stake up to 5.1 million shares in Hemisphere Media Group, Inc (NASDAQ:HMTV). Moreover, recently, Luxor Capital has raised stake in Lamar Advertising Co (NASDAQ:LAMR) to 4.1 million shares.

Luxor Capital Group is a New York based hedge fund that was founded by Christian Leone in 2002. The fund has a relatively balanced structure with investments in both equity and fixed-income securities, spanned across primarily the services, technology, and financial sectors. ING US Inc. (NYSE:VOYA), The Madison Square Garden Co (NASDAQ:MSG), and Cole Real Estate (NYSE:COLEare among the largest holdings in the fund’s latest 13F.

Disclosure: none

Recommended Reading:

 5 Small-Cap Stocks That Hedge Funds and Insiders Like

Christian Leone is Bullish on Lamar Advertising Co (LAMR) and Raises Stake to 5%

Luxor Capital Reports New Passive Stake in CONN’s Inc (CONN)

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 Click to see monthly returns in table format!

Lists

Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

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!