Luxor Capital Reports New Stake In Century Communities, Inc (CCS)

Christian Leone has initiated a new position in Century Communities, Inc (NYSE:CCS) for his fund, Luxor Capital Group. According to a recent filing with the Securities and Exchange Commission, Luxor Capital has acquired 1.61 million shares, which account for 7.5% of the total number of shares outstanding.

Christian Leone

None of the other hedge funds that we track have added Century Communities, Inc (NYSE:CCS) to their portfolio so far. The company engages in homebuilding activities and went public on June 18, with an Initial Public Offerinc (IPO) priced at $23.00. Century Communities has offered 4.48 million shares, of which 4 million have been sold by the company and 480,000 shares were sold by certain stockholders of the company. The underwriters were also offered a 30-day option to buy an additional 672,000 shares of common stock. The proceedings from the IPO are to be used for the development of the company’s core activities: acquisition and development of land.

The stock is currently trading at $22.05 per share, which gives the company a market cap of $471 million. Shares carry a trailing Price to Earnings (P/E) ratio of 13.70, which is considerably higher than the industry average of 2.50.

In another move, Leone has initiated a new position in RCS Capital Corp (NYSE:RCAP), acquiring  20.6 million class A shares and amassing 9.9% of the common stock. Leone and Luxor Capital have also gone activist on BJ’s Restaurants, Inc. (NASDAQ:BJRI) and have nominated 3 directors to the company’s board. Luxor Capital have entered into an agreement with Patrick Welsh’s PW Partners Atlas Fund and Jeffrey C. Neal’s Horizon Capital to create an activist group and together hold 4.53 million BJ’s Restaurants shares or 16% of the common stock. At the beginning of April, Luxor has also reported a reduction in its holding of William Lyon Homes (NYSE:WLH). It currently owns 6.29 million shares or 23% of company’s Class A common stock.

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

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!