Rlj Entertainment Inc. (RLJE): Wexford Capital Lowers Stake

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In a new 13G filing with the US Securities and Exchange Commission, Charles Davidson‘s Wexford Capital disclosed holding 260,001 common shares of Rlj Entertainment Inc. (NASDAQ:RLJE), which represent 5.14% of the company’s outstanding stock. The stake has been lowered from 484,508 shares Wexford Capital previously held, according to its last 13F filing (for the end of June).

RLJ Entertainment is a company that distributes entertainment content, with the main focus on three specific movie genres –  thriller, horror, and action. Recently, the company announced that it has signed an investment agreement with AMC Networks’ unit, Digital Entertainment Holdings, upon which AMC will provide a $60 million seven-year term loan and a $5 million one-year loan to RLJ Entertainment, which will, in return, give AMC warrants for purchasing minimum 20 million shares of RLJ Entertainment’s stock. Over the past 12 months, the company’s stock has increased by 85%. In its latest financial report for the quarter ended June 30, RLJ Entertainment reported a revenue of $15.79 million, compared to a revenue of $19.95 million for the corresponding quarter in the previous year.

Charles Davidson - Wexford Capital

According to Insider Monkey’s database, the number of hedge funds with positions in Rlj Entertainment Inc. (NASDAQ:RLJE) increased by one recently, and at the end of June there were three investors bullish on this stock, including Ken Griffin’s Citadel Investment Group, which initiated a new position and had $22,000 invested in the company at the end of the second quarter.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Wexford Spectrum Investors 0 260,001 0 260,001 260,001 .14%
Wexford Capital 0 260,001 0 260,001 260,001 .14%
Wexford GP 0 260,001 0 260,001 260,001 .14%
Charles E. Davidson 0 260,001 0 260,001 260,001 .14%
Joseph M. Jacobs 0 260,001 0 260,001 260,001 .14%

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Page 1 of 8 – SEC Filing

Washington, D.C. 20549
(Name of Issuer)
Common Shares
(Title of Class of Securities)
(CUSIP Number)
August 25, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
£ Rule 13d-1(b)
Rule 13d-1(c)
£ Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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