The parent company of Grilla Grills, American Outdoor Brands (NYSE: AOUT) has a new, large investor. Hallador Invesment Advisors (HIA) has been buying-up AOUT stock and now has a 7.5% stake with 1,008,996 voting shares.
According to their website, HIA is a SEC registered investment advisor and family office serving multiple generations of a single family and other institutional investment clients.
According to a filing with the SEC, the Reno, NV based investment firm believes that “the Shares, when purchased, were undervalued and represented an attractive investment opportunity”. Often when an investor acquires more than 5% of the voting shares of a public company it’s to influence the business. HIA says in the filing that they have “no present plans or proposals” related to things like a merger, reorganization, liquidation, asset sale, change in the board of directors, etc.
With AOUT stock price down well over 50% on the year, we’ll see if HIA takes a more active role in the company’s future.