Jim Roumell’s Roumell Asset Management Dumped QAD Inc. (QADA) and Dover Motorsports, Inc. (DVD)

Jim Roumell’s Roumell Asset Management dumped its shares in QAD Inc. (NASDAQ:QADA) and Dover Motorsports, Inc.(NYSE:DVD). The fund held 0.45 million shares of QAD Inc.(NASDAQ:QADA) and 0.6 million shares of Dover Motorsports, Inc.(NYSE:DVD) at the last reported quarter of 2013. According to a recent 13 G/A filing with the Securities and Exchange Commission, the fund dumped shares of both companies. The event happened on Dec. 31, 2013 when QAD Inc. (NASDAQ:QADA) sold for $16 and Dover sold for $2.51. QAD Inc.(NASDAQ:QADA) and Dover Motorsports, Inc.(NYSE:DVD) stock lost 2% and 10% respectively so far in 2014.

James Roumell

There are other hedge fund managers who’ve been bullish about QAD and Dover Motorsports, Inc.(NYSE:DVD). Jim Simons’ Renaissance Technologies has the most shares of QAD Inc. (NASDAQ:QADA) after Roumell dumping the shares of the stock. Simons owns 0.24 million shares of the stock, and increased its position in the stock from a quarter earlier. Ken Griffin’s Citadel Investment Group owns the second largest chunk of shares in QAD Inc.(NASDAQ:QADA). The fund owns 0.01 million shares. QAD Inc.(NASDAQ:QADA) insiders purchased 0.1 million shares in 2013, and sold 0.05 million shares. John W. Rogers’ Ariel Investments has the most shares of Dover Motorsports, Inc.(NYSE:DVD) among the more than 300 hedge funds we track. The fund has 3.22 million shares of DVD, up from 2.0 mentioned in an earlier filing. The increased position represents 17.5% of Dover's common stock. Mario Gabelli’s Gamco Investors owns the second largest chunk of shares in Dover Motorsports, Inc.(NYSE:DVD). Mario Gabelli owns 1.5 million shares of the company or 8.27% of the company's common stock. Dover Motorsports, Inc.(NYSE:DVD) insiders purchased 0.06 million shares in 2013. On the other hand, no insider sale has taken place. In the equity portfolio of Roumell Asset Management, Apple represents the largest position with 0.04 million shares and a value of $16 million. Tetra Technologies Inc is the second big position that corresponds to 11.3% of Roumell’s portfolio. The position represents 1.1 million shares of Tetra Technologies Inc with a dollar value of $13.9 million. QAD Inc.(NASDAQ:QADA) was founded in 1979 and is headquartered in Sacramento, California. The company offers solutions in enterprise software applications and related services. QAD Enterprise Applications, the company’s main product, includes QAD Financials, QAD Customer Management, QAD Manufacturing, QAD Supply Chain, QAD Service and Support, QAD Supply Chain Execution, QAD Analytics, and QAD QXtend. The company also provides customer support and related professional services. Dover Motorsports, Inc.(NYSE:DVD), formerly Dover Downs Entertainment Inc., markets and promotes motorsports entertainment in the United States. The firm promotes events under the National Association for Stock Car Auto Racing. The firm owns and operates Dover International Speedway in Delaware, and Nashville Superspeedway in Tennessee. The firm is based in Dover, Delaware. Disclosure: None
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