US Auto Parts (PRTS) Activist Situation–for the stock pickers in the crowd
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!
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!
Here is a link to the 13 D filing:
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