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Insider Trading: Bandera Partners Raised Stake in EPAX

Bandera Partners reported its stake expansion in Ambassadors Group Inc. (EPAX) on December 1st. Bandera Partners is EPAX’s stakeholder and insider. On November 29th, Bandera Partners bought 10,100 shares at $4.19, and reported 1.88 million shares or 10.7% passive stake ownership in EPAX. Bandera Partners revealed 1.14 million shares in EPAX at the end of September, so the firm has increased its position by 65% in Q4. EPAX has lost 60% in 2011. The stock closed at $4.44 on Friday.Ambassadors Group, Inc. (NASDAQ:EPAX)

Six hedge fund invested in EPAX in the second quarter. Bandera Partners increased its position by 57% and reported 822 thousand shares at that time. Jim Simons’ Renaissance Technologies increased its position by 11% to 553 thousand shares. Lisa Rapuano’s Lane Five Capital initiated its EPAX position in the second quarter and reported 253 thousand shares.

Bandera Partners was founded in 2006 by Gregory Bylinsky, Jefferson Gramm and Andrew Shpiz. The firm is located in New York City, NY. The firm reported a $176 thousand 13F portfolio in the third quarter, which was decreased by 8% from Q2. The firm primarily invested in Services, Healthcare, Consumer Goods, Financial, Technology sector.

Per Google Finance, Ambassadors Group, Inc. is “an educational company. The Company’s operations focus is on organizing and promoting global travel programs for students, athletes and professionals. In addition, it operates an online education oriented research site called BookRags, which provides millions of pages of content to students and teachers focused on literature. Its travel business consists of several specialized private-label educational travel programs. Its operations are organized in two reporting segments: Ambassador Programs and Other, which provides educational travel services to students, professionals, and athletes through multiple itineraries within five travel program types and corporate overhead, and BookRags, which provides online research capabilities through book summaries, critical essays, online study guides, lesson plans, biographies, and references to encyclopedia articles.”

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