Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Bison Capital Holding Opens Position In AirMedia Group Inc (ADR) (AMCN)

Bison Capital Holding Co Ltd is bullish on AirMedia Group Inc (ADR) (NASDAQ:AMCN). In a recent filing with the Securities and Exchange Commission, the fund has disclosed the ownership of 16.2 million shares, which represent 13.5% of the company’s common stock. Bison Capital entered a share transfer agreement with Global Gateway Investments, Ltd and has acquired 8,100,000 American Depositary Shares, or 16,200,000 shares, for a price of $14.58 million.

AirMedia Group (ADR) (AMCN)

Under the terms of the transfer contract, Bison Capital has agreed to purchase shares with the condition that Mr. Qunyao Gao and Mr. Peixin Xu be appointed directors of the company. The fund, however, does not intend to pursue any further actions that would interfere with the management of AirMedia Group Inc (ADR) (NASDAQ:AMCN).

According to our database, AirMedia Group stock is rather popular among top hedge fund managers. Driehaus Capital, run by Richard Driehaus, holds 1.86 million shares, up by 7% during the third quarter of 2013. Driehaus Capital’s stake is reportedly worth $3.2 million. Charles Clough has also been buying this stock, increasing his fund’s position by 6% during Q3. Clough Capital Partners reported in its latest 13F report the ownership of 1.25 million shares valued at a little under $2.2 million. Renaissance Technologies and Jim Simons have also been interested in this stock, increasing their stake by 6%. Renaissance currently holds 406,300 shares valued at $715,000.

AirMedia Group Inc (ADR) (NASDAQ:AMCN) offers advertising services in the People’s Republic of China. The company has a market cap of $100 million and does not pay a dividend. The stock has a beta of 0.98. For three months ended Semptember 30, 2013, AirMedia Group reported revenues of $69.0 million – a  5.6% year-over-year decrease. Diluted net loss attributable to shareholders per American Depositary Share (“ADS”) was $0.06. Herman Guo, Chairman and Chief Executive Officer, commented:

The robust growth of our mega-size LED screens network, our cost control strategy, and our efforts to turn around our unprofitable product lines are helping the Company to get on the right track back to profitability.

Our partnership with HNA group to provide in-flight internet connectivity service and in-air multimedia platform is a significant step for us, and we expect it to become a future growth driver for the Company.

Disclosure: none

Recommended reading:

Hedge Fund News: Kyle Bass, Bill Ackman & George Soros

Roumell Asset Management Nominates Candidates for Transcept Pharmaceuticals Inc (TSPT)’s Board

Oaktree Capital Management Reduces Exposure to Star Bulk Carriers Corp (SBLK)

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!