Luxor Capital Group Adds More Shares to Stake in RCS Capital Corp (RCAP)

Christian Leone‘s Luxor Capital Group has edged up its activist stake in RCS Capital Corp (NYSE:RCAP), a new filing with the SEC showed. Luxor has reported holding 24.35 million shares of the company, versus some 24.00 million held at the beginning of June. The new stake amasses around 13.33 million shares and 5.67 million shares issuable after the conversion of convertible preffered stock and convertible notes, as well as 2.40 million shares issuable after the excercise of the Call/Put Agreement. The position accounts to almost 10% of the company’s class A ommon stock.

Christian Leone

Luxor Capital has reported a new stake in RCS Capital Corp (NYSE:RCAP) at the beginning of May, declaring holding 20.66 million class A shares. The company has a market cap of $642.5 million and its stock has returned over 23% since the beginning of the year, although since May it has experiences a significant downfall, dropping by 29%.  It is a holding company specialized in the wholesale broker-dealer, investment banking and capital markets businesses.

Among other investors in RCS Capital Corp (NYSE:RCAP), is John Fichthorn‘s Dialectic Capital Management, which held a small stake in the company, containing only around 6,000 shares. Ken Griffin‘s Citadel Investment Group has sold out its position in the company during the first quarter, previously holding around 11,100 shares. Among the insiders of the company, the president of RCS, Edward Weil, has recently acquired around 2,500 shares of the company, currently holding close to 3,500 shares.

Yesterday, RCS Capital has reported its preliminary results for the second quarter of the year. As follows, the company reported Assets Under Administration worth $204.9 billion, up by almost 3% on the quarter, while revenues from transaction-based investment banking amounted to $23 million for the second quarter. Currently, the consensus estimate for RCS Capital Corp (NYSE:RCAP)’s EPS for the second quarter stands at around $0.37, down in comparison to $0.77 reported for the first quarter of the year, which was significantly above the estimates.

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!