The Pep Boys - Manny, Moe & Jack (NYSE:PBY) is seeing increasing interest from activist hedge funds Pirate Capital and Barington Capital, who both disclosed transactions as recently as November 21 in
13D/A filings with the SEC. Pirate disclosed that it now owns 11.7% of the company and has succeeded in installing Mr. Hudson on the company's board of directors. Meanwhile, Barington has amassed a 9% stake in the company, but gave no further details. Although their most recent 13D/A filings do not disclose any specific plans, both of these hedge funds are well known for unlocking shareholder value in the short-term through changes made to capital structure, special dividends, and outright sale of the companies they take over. This makes Pep Boys a stock to keep a close eye on in the coming months.
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