Bandera Partners Reduces Stake in Tandy Leather Factory, Inc. (TLF)

Gregory Bylinsky and Jefferson Gramm’s hedge fund Bandera Partners, has reported selling almost 19,000 shares of Tandy Leather Factory, Inc. (NASDAQ:TLF). Following the disposal of securities, Bandera owns more than 2.19 million shares of the company. The shares have been sold in one deal, the price amounting to $9.90 apiece.

On December 10, Tandy Leather Factory, Inc. (NASDAQ:TLF) announced that it is planning to open a couple of new retail stores – one in Corpus Christi, Texas and second in Bossier City, Louisiana. Earlier in 2013 the company had opened two more stores one in Corpus Christi, Texas and another in Bossier City, Louisiana.

Tandy Leather Factory reported an 8% increase in sales in November to $7.6 million from $7.1 million in November 2012. The Retail SSS were up by 9%; Wholesale SSS was up by 5%; and International SSS was up 7%.

Bares Capital Management, led by Brian Bares, holds around 1.63 million shares valuing $12.84 million. Central Square Management, run by Kelly Cardwell, has a stake containing 728,823 shares, worth $5.74 million. Royce & Associates, managed by Chuck Royce, has shown interest in Tandy Leather Factory, Inc. (NASDAQ:TLF) and has amassed 100,000 shares worth $787,000 in the third quarter of 2013. Bruce Silver’s Silver Capital Management Llc had raised its stake in the company by 22% during the third quarter of last year, and holds 54,442 shares worth $428,000.

Gregory Bylinsky and Jefferson Gramm’s hedge fund Bandera Partners is a value-oriented hedge fund which focuses on value investing and special situations.

Earlier in November, Bandera Partners bought additional shares of Ambassadors Group Inc (NASDAQ:EPAX) raising its stake to 3.1 million shares from 2.8 million shares.

Bandera Partners has a stake of 5.33 million shares, worth $26.24 million in Star Gas Partners, L.P. (NYSE:SGU). In the third quarter of 2013, 11.27% of its equity portfolio portfolio constituted Google Inc (NASDAQ:GOOG), represented by 24,750 shares for a total value of $21.68 million.

Disclosure: none

Correction: This article has been corrected to reflect the sale of securities held by the fund, instead of acquisition, as stated previously.

Recommended Reading:

Baker Bros. Advisors Reduces Exposure to MEI Pharma Inc (MEIP) to 3.4%

Barry Rosenstein, Jana Partners Trim Their Stakes in Oil States International, Inc. (OIS) and Outerwall Inc (OUTR)

Empire Capital Management Adds Veeva Systems Inc (VEEV) to Its Equity Portfolio