Luxor Capital Group Discloses Almost 10% Stake In RCS Capital Corp (RCAP)

Luxor Capital Group, managed by Christian Leone, has disclosed a new position in RCS Capital Corp (NYSE:RCAP). According to a new filing with the U.S. Securities and Exchange Commission, the fund owns about 20.66 million class A shares, representing 9.9% of common stock outstanding.

Christian Leone

The shares were purchased pursuant to a securities purchase agreement signed on April 29, 2014. The securities were acquired for a total of about $335.9 million.

RCS Capital Corporation (NYSE: RCAP) is an investment firm focused on the retail investor. It is engaged in the wholesale distribution, investment banking and capital markets businesses, and a research business focused on alternative investments. The company has a market cap of around 879 million and its stock trades at a P/E ratio of 33.84.

In late last month, RCS Capital Corporation (NYSE: RCAP) announced that it closed its acquisition of the Cetera Financial Group , an independent broker-dealer headquartered in El Segundo, California, from affiliates of Lightyear Capital for $1.15 billion in cash. The deal “creates the second largest independent financial advisor network in the nation adding some 6,632 financial advisors to RCAP’s growing retail financial advisory platform,” according to a statement.

At the end of December 2013, Ken Griffin’s Citadel Investment Group disclosed ownership of 11,115 shares of the company, with a reported value of $204,000.

Luxor Capital Group is a New York-based hedge fund with an estimated $3 billion in assets under management. Founded in 2002, the fund has a relatively balanced structure, with holdings in equity and fixed income investments throughout the world. At the beginning of April, the fund reported selling a total of 2.3 million class A shares of William Lyon Homes (NYSE:WLH), reducing its stake to some 6.29 million shares.

Disclosure: none

Recommended Reading:

PW Partners & Luxor Capital Group Gets Three Seats on BJ’s Restaurants, Inc. (BJRI)’s Board

Luxor Capital Group Acquires 383,500 Shares of Hemisphere Media Group Inc (HMTV)

Christian Leone is Bullish on Lamar Advertising Co (LAMR) and Raises Stake to 5%

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 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

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!