JAT Capital Boosts Stake in The Madison Square Garden Co (MSG) and Goes Activist

John Thaler’s JAT Capital has revealed in a recent filing with the Securities and Exchange Commission boosting its stake in The Madison Square Garden Co (NASDAQ:MSG) to 6.73% of the company’s outstanding Class A stock. JAT Capital currently owns around 4.28 million class A shares of The Madison Square Garden, versus 1.64 million shares revealed in its latest 13F filing. Moreover, the stake is activist by nature and the fund expressed its intention to engage in discussions with the company’s Board of Directors and management regarding the achievement of a long-term value for shareholders.

The Madison Square Garden Co (NASDAQ:MSG)

According to the filing, JAT Capital stated that they might consider to engage in “constructive” discussions and will provide recommendations on how the company can increase its value. Among the institutional investors that filed their 13F forms for the last semester, JAT Capital is now the third largest shareholder in Madison Square Garden. Another fund that we track, which owns a significant position in The Madison Square Garden Co (NASDAQ:MSG) is Christian Leone‘s Luxor Capital Group. Luxor revealed in its latest 13F ownership of around 4.88 million shares, which give it a stake of 7.67%. However, according to a previous filing, Luxor holds a passive stake in the company.

The stock of The Madison Square Garden Co (NASDAQ:MSG) jumped on the back of the news and climbed almost 4% since JAT Capital disclosed its stake. Overall, since the beginning of the year, shares of The Madison Square Garden Co (NASDAQ:MSG) gained around 14%. The company is engaged in sports, and media segments, conductiong its operations through direct and indirect subsidiaries. Among others, MSG owns the New York Knicks basketball team and New York Rangers hockey team.

For its fiscal 2014, ended on June 30, The Madison Square Garden Co (NASDAQ:MSG) reported a 16% growth in revenue on the year to $1.56 billion. However, its net income declined by 19% on the year and amounted to $115.1 or $1.47 per share. Moreover, Madison Square Garden trails a P/E of around 37.00, which is more than double than the industry average.

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

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

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

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!