Baker Street Capital disclosed a brand-new 9.1% activist stake in Autoinfo Inc. (AUTO.OB) on November 10th. According to the SEC 13D filing, Baker Street Capital did not have a position in the stock before. The firm made a one-time purchase for 3,094,884 shares at $0.55 per share on October 31st, pushing the stock surged 18% on the same day. Now AUTO.OB is trading at $0.65, and has returned 3% so far in 2011.
Baker Street Capital Management is a value-focused investment firm founded in 2009 and based in Beverly Hills, CA. It’s a privately owned firm focusing on Open-end investment management. The firm’s estimated annual revenue is about $110,000.
According to Yahoo! Finance, Autoinfo, Inc. operates as “a non-asset based transportation services company in the United States and Canada”. The company offers “transportation capacity and related transportation services to shippers. The company provides brokerage and contract carrier transportation services through strategic alliances with less than truckload, truckload, air, rail, ocean common carriers, and independent owner-operators. Its services comprise ground transportation coast to coast, local pick-up and delivery, air freight, and ocean freight services. The company offers its transportation carrier services through a network of independent sales agents. It also provides support services to the network of agents, such as financial support through interest bearing long-term loans and non-interest bearing short-term loans, as well as other services, including training, margin analysis, marketing assistance, industry and market segment data, and business analysis tools. Autoinfo, Inc. was founded in 1976 and is headquartered in Boca Raton, Florida.”