Stadium Capital Management recently reported its passive stake in Ambassadors Group Inc. (EPAX). As of December 9th, the firm had 1.82 million shares in EPAX, corresponding to a 10.4% passive stake ownership. Stadium Capital Management reported 1.44 million shares in EPAX at the end of September, so this is a 27% expansion in its position. Stadium Capital Management’s initial filing for its EPAX position is on September 21st. At that time the firm took 1.21 million shares in the stock. EPAX has lost more than 60% in 2011. The stock is now priced at $4.50.
According to Insider Monkey’s hedge fund tracking list, beside Stadium Capital, Gregory Bylinsky and Jefferson Gramm’s Bandera Partners had 1.14 million shares in EPAX at the end of the third quarter. Jim Simons’ Renaissance Technologies had a smaller position, with 628 thousand shares in the stock.
According to the firm’s profile, Stadium Capital Management is a small hedge fund with a long and successful investment track record. The firm has $400 million under management, and has a stable and experienced investment team as well as an extraordinary group of investors. Its investment principles have roots in the philosophies of Ben Graham and Warren Buffett, as well as the firm’s team members’ many years investing in the private and public equity arenas. The firm has a team of eight investment professionals with offices in Oregon and Connecticut.
Ambassadors Group Inc. is an educational company which focuses on global travel programs for students, athletes and professionals. The company operates BookRags, which is an online education oriented research site. The company also offers People to People Student/Sports Ambassador Programs, as well as Leadership Summit and World Leadership Forum.