In BJ’s Restaurants, Inc. (NASDAQ:BJRI), Luxor holds around 3.50 million shares as of the end of 2014, valued at $175.89 million. In March, 2014, Mr. Leone formed an activist group with Patrick Welsh’s PW Partners Atlas Fund and Jeffrey C. Neal from Horizon Capital, agreeing to cooperate and seek representation on the company’s board of directors. In April, the activist group entered into an agreement with BJ’s Restaurants to nominate three directors to the board. The stock of the $1.3 billion restaurant operator is up by about 56% since the end of March 2014. However, last week, Tigress Financial initiated coverage on BJ’s Restaurants, Inc. (NASDAQ:BJRI), setting an ‘Underperform’ rating and the stock currently has a consensus ‘Hold’ rating with a price target of $52.70, which shows little upside over the current price. Luxor is currently the largest shareholder of BJ’s Restaurants, Inc. (NASDAQ:BJRI), among the funds that we track, with other investors holding much less significant positions, such as Douglas Dillard Jr. and Raj D. Venkatesan’s Standard Pacific Capital, which owns roughly 212,900 shares.
Luxor’s next two largest positions among small-cap stocks come very close in the equity portfolio, being situated on the 12th and 13th places. The investor disclosed holding 7.59 million shares of CONN’S, Inc. (NASDAQ:CONN), valued at $141.79 million and 2.56 million shares of Nexstar (down by 17% on the quarter) worth $132.38 million. Conn’s stock is down by 23% over the past year amid disappointing financial results, although since the beginning of the year the stock has managed to recover slightly and gain 59% year-to-date. The main problem that affected CONN’S, Inc. (NASDAQ:CONN) previous earnings results was its credit portfolio, as the company had to increase its provisions for credit losses. In this way, shareholders’ eyes will be focused on Conn’s tomorrow, as it reports its financial results for the fourth quarter of fiscal 2015. Greenlight Capital, managed by David Einhorn, is another shareholder of CONN’S, Inc. (NASDAQ:CONN), owning 3.56 million shares as of the end of 2014.
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)‘s stock has also enjoyed a strong run, advancing by more than 57% over the last 52 weeks. The company has a market cap of $1.80 billion and is engaged in television broadcasting and digital media, operating TV Stations and community websites in the US. During the fourth quarter, the number of funds holding shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) increased to 26 from 24, and the aggregate value of stakes held by these funds appreciated to $818.82 million, from $666.75 million at the end of September. Luxor is the second-largest shareholder of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), trailing Marc Lisker, Glenn Fuhrman, and John Phelan’s MSDC Management, which owns 3.06 million shares.
Disclosure: None
