Bandera Partners, managed by Gregory Bylinsky, Jefferson Gramm and Andrew Shpiz, reported 27.2% activist stake in Tandy Leather Factory Inc. (TLF) on December 13th. According to the SEC 13D filing, now Bandera Partners has 2,765,190 shares in TLF. Form 4 filing shows the firm took 2,756,016 shares at the end of September. It made three insider purchases during the fourth quarter and bought totally 9,174 shares at $4.56 per share on average. TLF is now trading at $4.70, slightly up 2% year to date.
Brian Bares’ Bares Capital Management also took a position in TLF in the third quarter. The firm had 1.65 million shares in the stock by the end of September.
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.
According to Google Finance, Tandy Leather Factory, Inc. “is a retailer and wholesale distributor of a line of leather and related products, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company also manufactures leather lacing and some of its do-it-yourself kits. The Company operates in three divisions: Wholesale Leathercraft, Retail Leathercraft and international leathercraft. As of December 31, 2009, the Company operated 30 wholesale stores, 29 operating under the Leather Factory name (26 in the United States and three in Canada) and one operating under the Mid-Continent Leather Sales name. It also operated 75 retail stores operating under the Tandy Leather name (69 in the United States and six in Canada), as well as one combination wholesale and retail store operating under the Tandy Leather Factory name in the United Kingdom.”