According to several filings with the Securities and Exchange Commission, Gregory Bylinsky and Jefferson Gramm
’s hedge fund Bandera Partners has made
moves into three of its holdings: Tandy Leather Factory, Inc. (NASDAQ:TLF
), Ambassadors Group Inc (NASDAQ:EPAX
), and Morgan's Foods, Inc. (OTCMKTS:MRFD
The fund has further decreased its exposure to Tandy Leather Factory, Inc. (NASDAQ:
TLF). After earlier last week, Bandera reported selling around 19,000 shares of the company, in a second filing, the fund revealed trimming its stake by
another 56,400 shares. The securities have been sold in two transactions, the average price amounting to approximately $9.71 per share. Following the disposal, Bandera Partners owns
about 2.86 million shares of Tandy Leather Factory, Inc. (NASDAQ:
TLF), which represent 28% of common stock.
In another filing, Bandera reiterated holding around 3.05 million shares of Ambassadors Group Inc (NASDAQ:EPAX), the stake representing 18% of the company's common stock. The fund boosted the holding earlier in November.
Ambassadors Group Inc (NASDAQ:
EPAX) is a company specialized in travel offers for students and professionals. Aside from Bandera Partners, other funds that disclosed holding of Ambassadors Group shares in the latest round of 13F filings are: Lisa Rapuano
's Lane Five Capital, and Thomas E. Lynch
's Mill Road Capital Management, among others. These two funds reported holding 1.19 million, and 811,600 shares respectively, with values worth $4.10 million, and $2.80 million.
In Morgan's Foods, Inc. (OTCMKTS:
MRFD), Bandera Partners also reiterated its position, which amasses around 1.05 million shares. Bandera's stake represents 26.4% of the company's common stock and has been initiated earlier in April 2013. The fund and the company entered into a stock purchase agreement, as well as a nomination agreement, following which Bandera got the right to nominate a representative on the company's board.
Bandera Partners is a hedge fund that specializes on value investing and special situations. Among its largest holdings are Star Gas Partners, L.P. (NYSE:SGU
), in which the fund holds 5.33 million shares, worth $26.24 million; and Google Inc (NASDAQ:GOOG
) represented by a $21.68 million stake, which contains 24,750 shares.
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