Luxor Capital Initiates Stakes in Nexstar Broadcasting Group, Inc. (NXST) and CBL & Associates Properties, Inc. (CBL)

In a couple of filings, Luxor Capital Group, managed by Christian Leone, revealed adding Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) and CBL & Associates Properties, Inc. (NYSE:CBL) to its equity portfolio.

Christian Leone

In its first filing, Luxor Capital Group revealed that it currently holds around 1.63 million shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). The stake amasses 5.4% of the class A common stock of the company.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) is a television broadcasting and digital media company.

At the end of the fourth quarter, Southpoint Capital Advisors, managed by Rob Butts and Josh Clark, held 1.18 million shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), worth $65.48 million. Steven Cohen’s Sac Capital Advisors, also disclosed owning 193,800 shares of Nexstar Broadcasting at the end of December.

Luxor Capital Group has also initiated a position in CBL & Associates Properties, Inc. (NYSE:CBL), a real estate investment trust. According to the filing, Luxor Capital Group now holds 8.81 million shares of CBL & Associates, which are equal to 5.2% of the common stock.

Another hedge fund bullish on CBL & Associates Properties, Inc. (NYSE:CBL) is Invesco Private Capital, managed by Wilbur Ross, which held 7.33 million shares of the company at the end of last year. Ken Griffin’s Citadel Investment Group, also owned 162,200 shares of the company at the end of the fourth quarter.

Luxor Capital Group is a balanced hedge fund, which invests both in equity and fixed income investments and also invests in distressed companies.

Last month, Luxor Capital Group reported adding 1.78 million shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) to its equity portfolio, amassing 6.3% of the company’s common stock. A week before, the fund disclosed that it initiated a stake in AMC Entertainment Holdings Inc (NYSE:AMC), and that it holds 1.28 million class A shares, equal to 6.1% of the class A common stock.

Disclosure: none

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