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

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

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

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!