Roumell Asset Management Closes Stake in Sandstorm Gold; Buys Stakes in FIG, Polaris Industries

Fortress Investment Group LLC (NYSE:FIG)

– Shares Owned by Roumell Asset Management LLC (as of June 30): 240,000
– Value of Roumell Asset Management LLC’s Holding (as of June 30): $1.06 Million

The Maryland-based asset management firm acquired a new stake of 240,000 shares of Fortress Investment Group LLC (NYSE:FIG) during the April-to-June period, valued at $1.06 million on June 30. The position made up 2.4% of the fund’s 13F portfolio. The diversified global investment management firm, which has around $70.2 billion in assets under management as of the end of June, has seen the value of its stock gain a little less than 1% since the start of the year. The U.S. asset manager reported total revenues of $464.3 million for the first half of 2016, down from $535.2 million posted for the same period of the prior year. The decrease was mainly driven by lower incentive income, which is typically dependent upon performance, and a decrease in management fees. Fortress Investment Group recently revealed plans to shut its Fortress Centaurus Global funds, which use a so-called event driven strategy. Ric Dillon’s Diamond Hill Capital owns 3.82 million shares of Fortress Investment Group LLC (NYSE:FIG) as of June 30.

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Polaris Industries Inc. (NYSE:PII) Stake to Its Portfolio

– Shares Owned by Roumell Asset Management LLC (as of June 30): 14,135
– Value of Roumell Asset Management LLC’s Holding (as of June 30): $1.16 Million

Polaris Industries Inc. (NYSE:PII) was yet another addition to Roumell Asset Management’s portfolio in the second quarter. The value-oriented asset manager purchased a stake of 14,135 shares during the quarter, which was worth $1.16 million at the end of June. The stake accounted for 2.6% of the equity portfolio. The shares of the Minnesota-based off-road vehicle manufacturer are 9% in the green thus far in 2016. The company’s sales for the second quarter were $1.13 billion, slightly up from $1.12 billion posted a year ago. Polaris Industries sold fewer of-road vehicles (ORVs) in the second quarter of 2016 compared to a year ago, reflecting ongoing softness in North American retail sales in regions heavily dependent on crude oil markets, as well as negative effects from the recent recalls of certain products. After more than 100 off-road machines unexpectedly burst into flames, Polaris Industries announced the recall of around 133,000 recreational off-highway vehicles. Ken Fisher’s Fisher Asset Management was the owner of 219,431 shares of Polaris Industries Inc. (NYSE:PII) at the end of June.

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