Gregory Bylinsky, Jefferson Gramm and Andrew Shpiz's Bandera Partners reported new insider purchases in Texas-based Tandy Leather Factory. Bandera Partners now own more than 2.5 Million shares of TLF. TLF is currently trading at $4.75 and has a market cap of $48 Million.
The interesting thing about this micro cap stock is that Brian Bares' Bares Capital Management had 1.65 Million shares in TLF as well. These two hedge funds collectively own more than 40% of the outstanding shares of TLF.
According to Yahoo Finance, Tandy Leather Factory, Inc., together with its subsidiaries, operates as a retailer and wholesale distributor of leather and related products in the United States, Canada, and the United Kingdom. It offers leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits, as well as involves in the manufacture of leather lacing and do-it-yourself kits. The company operates in three segments: Wholesale Leathercraft, Retail Leathercraft, and International Leathercraft. The Wholesale Leathercraft segment operates a chain of warehouse distribution units in North America. As of December 31, 2009, it operated 30 wholesale stores comprising 29 under the Leather Factory name and 1 under the Mid-Continent Leather Sales name. The Retail Leathercraft segment operates a chain of retail stores under the Tandy Leather Company name in North America. As of March 1, 2010, this segment operated 76 Tandy Leather retail stores.