Roumell Asset management

  • Founded by James C. Roumell in 1998
  • Launched proxy battle in the past: No
  • Filed 13D and expressed dissatisfaction: Yes
  • Successful in securing board seats? Yes
  • 13FHR: Yes

James C. Roumell

Mr. Roumell entered the securities industry in 1986. Before founding the firm in 1998, he was a Registered Principal at Raymond James Financial Services, Inc. Mr. Roumell was selected to participate in, and won, two consecutive Wall Street Journal stock picking contests (in 2001 and 2002) before the contest was discontinued. Mr. Roumell has been featured in such publications as Barron‘s, Kiplinger‘s, Value Investor Insight, Financial Planning Magazine, and The Washington Post. He is a graduate of Wayne State University in Detroit, Michigan. Mr. Roumell is also a board member of Transitional Housing Corporation, Inc., a not-for-profit group providing affordable housing to low-income residents of Washington, D.C. He is married with two children and lives in Chevy Chase, MD.

Portfolio

Letters/presentations

Roumell’s significant filings

GameStop Corp. (GME): Special activist report

In March 2019, Hestia Capital Partners and Permit Capital urged the company to repurchase up to $700 million and hire a new CEO and nominated four candidates for election to the Board. In May 2019, the company hired a new CFO, Chief Merchandising Officer, and Chief Customer Officer. In June 2019, the company eliminated quarterly dividend and used the cash to repay the debt (approx. $157 million annually). In June 2019, the company announced repurchase of roughly 11.7% of its o/s shares.



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Cracker Barrel Old Country Store, Inc. (CBRL): Special activist report

Biglari Capital is an active shareholder for more than ten years. In March 2019, Biglari Capital urged the company to continue the special dividend of $3.75 per share and threatened that it would launch a proxy campaign if the company failed to declare a special dividend. After the threat of proxy campaign from Biglari Capital, in June 2019, the company announced that it had increased the quarterly dividend by 4%, declare a special dividend of $3 per share and authorized $50 million stock repurchase plan.



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PDC Energy, Inc. (PDCE): Special activist report

Kimmeridge Energy Management disclosed active stake in February 2019. It nominated Board candidates and lost the proxy battle. In April 2019, the company entered into an agreement to divest natural gas gathering midstream assets for $182 million. In May 2019, the company sold certain midstream assets for $37 million and sold water related midstream assets for $125 million. In June 2019, the company sold its gas related midstream assets for $100 million.



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