US Auto Parts (PRTS) Activist Situation–for the stock pickers in the crowd

US Auto Parts (PRTS) Activist Situation–for the stock pickers in the crowd

September 25, 2013 Research Insights
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(Last Updated On: September 25, 2013)

In my former life as a stock-picker I picked up a love for activist investing.

Activist investing is a lot like being a capitalist freedom fighter–everyone hates you, management calls you names, and you are always a “bad guy.”

Ironically, the activist is typically the one party that is actually doing the right thing: trying to make a business more efficient, booting out management that is leaching off of shareholders, or changing the capital structure so it is more profitable for common stock holders.

Well, a recent situation came across my desk that looked worthy of further investigation for those inclined to “do their homework.”

PRTS–a micro-cap under pressure!

U.S. Auto Parts Network, Inc

Tim Macquire, a former executive at Philadelphia Insurance–a large insurance company that was purchased by Tokio Marine Group in 2008–is leading the charge!

We did a little digging and found out that Tim Macquire is a 13x Ironman Triathlete–I almost feel bad for PRTS. This guy isn’t going to quit!

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Here is a link to the 13 D filing:

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About the Author

Wesley R. Gray, Ph.D.

After serving as a Captain in the United States Marine Corps, Dr. Gray earned a PhD, and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management that delivers affordable active exposures for tax-sensitive investors. Dr. Gray has published four books and a number of academic articles. Wes is a regular contributor to multiple industry outlets, to include the following: Wall Street Journal, Forbes,, and the CFA Institute. Dr. Gray earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania.