Sec Form 4 Filing - Fundamental Global Investors, LLC @ BALLANTYNE STRONG, INC. - 2017-04-28

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Fundamental Global Investors, LLC 2. Issuer Name and Ticker or Trading Symbol BALLANTYNE STRONG, INC. [ BTN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 4201 CONGRESS STREET, SUITE 140, 3. Date of Earliest Transaction (MM/DD/YY) 04/28/2017 (Street) CHARLOTTE, NC28209 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.01 per share 04/28/2017 J( 3 ) 272,204 D $ 6.25 426,224 ( 1 ) ( 2 ) I Fundamental Global Partners Master Fund, LP Common Stock, par value $0.01 per share 04/28/2017 J( 3 ) 272,204 A $ 6.25 1,017,765 ( 1 ) ( 2 ) I Fundamental Global Partners, LP Common Stock, par value $0.01 per share 05/03/2017 J( 4 ) 74,210 D 352,014 ( 1 ) ( 2 ) I Fundamental Global Partners Master Fund, LP Common Stock, par value $0.01 per share 05/03/2017 J( 4 ) 74,210 A 853,619 ( 1 ) ( 2 ) I Fundamental Global Holdings, LP Common Stock, par value $0.01 per share 65,739 ( 1 ) ( 2 ) I FGI Global Asset Allocation Master Fund, LP Common Stock, par value $0.01 per share 34,911 ( 1 ) ( 2 ) I FGI Global Asset Allocation Fund, Ltd.

T able II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Fundamental Global Investors, LLC 4201 CONGRESS STREET, SUITE 140 CHARLOTTE, NC28209 X X Cerminara Kyle C/O FUNDAMENTAL GLOBAL INVESTORS, LLC 4201 CONGRESS STREET, SUITE 140 CHARLOTTE, NC28209 X X Executive Chairman and CEO Johnson Lewis M C/O FUNDAMENTAL GLOBAL INVESTORS, LLC 4201 CONGRESS STREET, SUITE 140 CHARLOTTE, NC28209 X X MOGLIA JOSEPH H C/O FUNDAMENTAL GLOBAL INVESTORS, LLC 4201 CONGRESS STREET, SUITE 140 CHARLOTTE, NC28209 X Signatures FUNDAMENTAL GLOBAL INVESTORS, LLC /s/ D. Kyle Cerminara, Chief Executive Officer, Partner and Manager 05/03/2017 Signature of Reporting Person Date /s/ D. Kyle Cerminara 05/03/2017 Signature of Reporting Person Date /s/ Lewis M. Johnson 05/03/2017 Signature of Reporting Person Date /s/ Joseph H. Moglia 05/03/2017 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Reporting Persons beneficially own in the aggregate 2,324,048 shares of Common Stock, which represents approximately 16.1% of the Company's outstanding shares of Common Stock. Fundamental Global Investors, LLC may be deemed to be a beneficial owner of the shares of Common Stock that are directly owned by Fundamental Global Partners, LP ("FGPP"), Fundamental Global Partners Master Fund, LP ("FGPM"), Fundamental Global Holdings, LP ("FGHP"), FGI Global Asset Allocation Fund, Ltd. ("FGAA") and FGI Global Asset Allocation Master Fund, LP ("FGGM"). In addition, CWA Asset Management Group, LLC, of which 50% is owned by Fundamental Global Investors, LLC, holds 700,083 shares of Common Stock for the accounts of individual investors, which represents approximately 4.9% of the Company's outstanding shares of Common Stock. ( 2 )Due to their positions with Fundamental Global Investors, LLC and affiliated entities, Messrs. D. Kyle Cerminara, Lewis M. Johnson and Joseph H. Moglia may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by FGPP, FGPM, FGHP, FGAA and FGGM. ( 3 )Represents a cross-trade between FGPM and FGPP, in which FGPM disposed of and FGPP acquired the reported shares. Accordingly, there was no change in the aggregate beneficial ownership of the Reporting Persons. ( 4 )Withdrawal and redemption from FGPM and contribution to FGHP.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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