Small-Cap-Focused AOF Management Discloses 5.2% Stake In Cinedigm Corp (CIDM)

In the meantime, Cinedigm has hired Evolution Media Capital a few weeks ago to evaluate potential takeover deals. The independent film and television distributor has attracted some interest from other entertainment companies that seek to expand their digital strategies. This might also represent a great outcome for the current shareholders of Cinedigm. However, activist shareholder Ronal Chez, who is among the largest investors in Cinedigm Corp (NASDAQ:CIDM) through his Chicago-based investment firm, has claimed that the company is a great opportunity and it simply needs the right leadership. Therefore, it seems that Cinedigm might actually achieve high growth rates in the future through organic growth rather than securing potential merger deals.

The disappointing earnings report for the fourth fiscal quarter also signaled that Cinedigm Corp (NASDAQ:CIDM) needs a quick radical change. On June 29, Cinedigm reported a net loss of $11.03 million for its fourth fiscal quarter of 2015, compared to the loss of $3.33 million posted for the same quarter a year ago. Put it differently, the company had a loss of $0.14 per share, while the loss adjusted for asset impairment costs and accounted for discontinued operations amounted to $0.09 per share. At the same time, Cinedigm reported fourth quarter consolidated revenues of $27.6 million, compared to $31.66 million reported in the fourth fiscal quarter of 2014. For the full fiscal year, the television distributor posted a loss of $31.3 million or $0.41 per share, on revenue of $105.5 million, compared to a loss of $25.86 million and revenue of $104.33 million a year earlier.

Within our database, John M. Angelo and Michael L. Gordon’s Angelo Gordon & Co and Jim Simons’ Renaissance Technologies represent the largest shareholders of Cinedigm Corp. (NASDAQ:CIDM) with 1.38 million shares and 657,813 million shares, respectively.

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