Altisource Asset Management Corp (AAMC): Christian Leone’s Luxor Capital Strengthens Its Activist Stake

As a new filing with the U.S. Securities and Exchange Commission showed, Christian Leone‘s Luxor Capital Group has inched up its position in Altisource Asset Management Corp (NYSEMKT:AAMC). The fund revealed holding a total of 400,215 shares, the stake being increased by around 27,400 shares acquired in several transactions. The activist position also includes 120,000 shares that can be issued upon the conversion of preferred stock, the filing added. Following the increase, Luxor Capital owns 12.5% of Altisource Asset Management Corp (NYSEMKT:AAMC)’s common stock.

Christian Leone

As Luxor also said in its filing, the total cost of investment amounts to over $220 million. Even though, so far this year, Altisource Asset Management Corp (NYSEMKT:AAMC)’s stock has been declining, it has more than doubled over the past year. We should also mention that Luxor initiated a stake in the company during the third quarter of 2013, first disclosing ownership of around 62,000 shares and over the following quarters keep raising its exposure to the company.

Altisource Asset Management Corp (NYSEMKT:AAMC) is a $1.5 billion asset management company, which also provides corporate governance services to Residential, under the terms of the Residential asset management agreement. For the first six months of the year, Altisource Asset Management reported a net income of $20.1 million, equal to $7.00 per share, which is a significant improvement from a net loss of $2.3 million the company reported for the same period of 2013.

Another investor that holds a significant chunk of Altisource Asset Management Corp (NYSEMKT:AAMC) shares is Brian Jackelow‘s SAB Capital Management, which last declared holding some 219,300 shares, according to its 13F filing. Among others, Israel Englander‘s Millennium Management has reported a new stake in the company in its latest 13F filing, although it owns a small position that contains around 1,900 shares.

Disclosure: none

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

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

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!