Apple Inc. (AAPL), SeaChange International (SEAC), Sizmek Inc. (SZMK): Roumell Asset Management’s Top 3 Picks

In its latest 13F filing, Roumell Asset Management, led by Jim Roumell, has revealed an equity portfolio worth nearly $86 million as of June 30 2014. The fund has disclosed a total of 14 positions, with strong focus on Technology and Energy stocks. In this article, we will discuss the top three stock picks of the fund.

Jim Roumell

First largest equity position of Mr. Roumell’s fund is Apple Inc. (NASDAQ:AAPL). Roumell Asset Management boosted its stake in the company to 146,818 shares, with a reported value of $13.64 million, from 31,031 shares held previously. Apple Inc. (NASDAQ:AAPL) posted an increase in its revenue for fiscal 2014 third quarter to $37.4 billion from $35.3 billion in the year-ago quarter. The company reported net profit of $7.7 billion, or $1.28 per diluted share, compared to net profit of $6.9 billion, or $1.07 per diluted share, in the same quarter of 2013.

Other hedge funds that hold stakes in the company include Carl Icahn‘s Icahn Capital LP, which disclosed, in its latest 13F filing, ownership of 7.54 million shares of the company, and Greenlight Capital, managed by David Einhorn, which holds 1.99 million shares.

Next one is SeaChange International (NASDAQ:SEAC), in which Roumell Asset Management has raised its position to 1.69 million shares from 732,580 shares reported previously. The market value of the stake is $13.53 million. SeaChange International (NASDAQ:SEAC) is a global multi-screen video software innovator, and has a market cap of $245.21 million. For first quarter fiscal 2015, the company reported a non-GAAP operating loss of $7.2 million, or $0.22 per basic share, from continuing operations, compared to non-GAAP operating income of $1.2 million, or $0.04 per fully diluted share, from continuing operations, in the year-ago quarter, according to a news release.

On Tuesday, shares of the company traded down by 0.53% to $7.50. The stock has a 52 week high of $15.25 and a 52 week low of $7.27. Aside from Roumell Asset Management, Royce & Associates, led by Chuck Royce, holds 926,400 shares, and Jim Simons’ Renaissance Technologies reported owning 645,585 shares of the company, according to our record.

Roumell Asset Management revealed owning a $10.3 million stake in Sizmek Inc. (NASDAQ:SZMK), an open ad management platform company servicing more than 5,000 agencies and with representatives in 48 countries. The position contains 1.08 million shares, and represents an increase from 607,541 shares the fund disclosed previously.

The company has a market cap of $288.49 million. Shares of the company traded down by 0.94% to $9.49 on Tuesday. Analysts have the consensus average target price of $16.00 for Sizmek Inc. (Nasdaq:SZMK), while the consensus average recommendation is ‘Buy’.

On Monday, Sizmek Inc. (Nasdaq:SZMK) reported that it acquired Aerify Media, a company specializing in mobile tracking and retargeting, in a transaction valued at $6.25 million in cash.

Maryland-based Roumell Asset Management was founded Jim Roumell in in 1998. The fund focused on “finding value through out-of-favor, overlooked or misunderstood securities.” With around $300 million in assets under management, Roumell Asset Management allocates roughly half of its capital in U.S. equities.

Disclosure: none

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