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Luxor Capital Group Reveales New Position in BJ’s Restaurants, Inc. (BJRI)

Christian Leone‘s Luxor Capital Group, has disclosed, in a new filing with the SEC adding BJ’s Restaurants, Inc. (NASDAQ:BJRI) to its equity portfolio. The fund disclosed ownership of 1.78 million shares of the company, which represent 6.3% of the company’s common stock. The value of the passive stake amounts to $51.11 million, at the current price of the stock.

Christian Leone

BJ’s Restaurants Inc (NASDAQ:BJRI) saw revenues increase by 8% to $199.8 million from $184.8 million for the fourth quarter. However, discounting and increased promotional activities lead to a decrease in average guest check of 0.4%. Comparable restaurants sales for the fourth quarter decreased by 2.7% owing to a 2.3% reduction in guest traffic. BJ’s Restaurants owns and operates 146 restraunts across the U.S.

Among the hedge funds tracked by us, Citadel Investment Group, managed by Ken Griffin, had an investment of $40.03 million in 1.39 million shares of the company. This was followed by an investment of $3.51 million in approximately 123,000 shares by Israel Englander’s Millennium Management.

With an estimated $7 billion in its equity portfolio, the fund focuses on distressed companies. It has a balanced structure and invests using a balanced approach in both equity and fixed income investments. At the end of the third quarter, the fund had invested $334.17 million in 5.75 million shares of Madison Square Garden Co (NASDAQ:MSG). This was followed by  an investment of $183.46 million dollars in 5.48 million shares of Twenty-First Century Fox Inc (FOXA) as well as 1.29 million shares worth $180.91 million in Altisource Portfolio Sltns S A (NASDAQ:ASPS).

Luxor Capital had initiated a new stake in AMC Entertainment Holdings Inc (NYSE:AMC) last week by amassing 1.28 million class A shares equal to 6.1% of the common stock. The stake is valued at $26.51 million.

Disclosure: none

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