Roumell Asset Management Dumps Tecumseh Products Company (TECUA)
Roumell Asset Management, led by Jim Roumell, revealed in a filing with Securities and Exchange Commission that it has dumped its holding in Tecumseh Products Company (NASDAQ:TECUA). The fund held 523,024 Class A Shares and 334,778 Class B Shares of the company previously.
Tecumseh Products Company (NASDAQ:TECUA), manufactures hermetically sealed compressors. Recently, Tecumseh Products announced its expansion of AE2 line-up for low-to-medium back pressure (L/MBP) applications. Tecumseh Products will also be benefited with its new Masterflux® Eclipse direct current compressors and Sierra chiller units.
Nierenberg Investment Management, led by David Nierenberg, initiated a position in Tecumseh Products Company (NASDAQ:TECUA) in the third quarter of 2013, and held 1.16 million shares at the end of the quarter, with a reported value of $9.99 million. Jim Simons’ Renaissance Technologies, held 448,200 shares of Tecumseh, worth $4.01 million.
Roumell Asset Management focuses on "finding value through out-of-favor, overlooked or misunderstood securities." The fund has 13.16% of its equity portfolio invested in Apple Inc. (NASDAQ:AAPL), and held 33,922 shares of the company at the end of the third quarter of 2013. TETRA Technologies, Inc. (NYSE:TTI), stands on the second spot, the fund holding 1.11 million shares. In Ultra Petroleum Corp. (NYSE:UPL), the fund held 499,140 shares.