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

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

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

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!