Activist Daniel Loeb Seeks To Repair Advance Auto Parts [Forbes]
Advance Auto Parts Inc. (AAP)
Last advance auto parts inc. earnings: 2/18 06:30 am
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Source: Forbes
The company has struggled recently with higher costs. Its new board members have expertise in the automotive space. In his latest bid to help a struggling company regain its footing, Daniel Loeb Trades Portfolio )'s Third Point, along with fellow activist firm Saddle Point, disclosed earlier this week it reached an agreement with Advance Auto Parts AAP Inc. ( AAP Financial ) for a stake and three board seats. While the size of the stake has yet to be disclosed, CNBC reported that sources noted Third Point began building it in 2023. Picking stocks using an event-driven, value-oriented approach, the guru's New York-based firm is known for entering activist positions in underperforming companies with a catalyst that will help unlock value for shareholders. The aftermarket auto parts supplier appears to fit these criteria as its stock has languished after reaching a high in early 2022. Three-year price chart for Advance Auto Parts The root of the company's recent woes lies in e
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News
- Advance Auto Parts Offers Race Fans Once-in-a-Lifetime Trip to Attend Indianapolis 500, Coca-Cola 600 [Yahoo! Finance]Yahoo! Finance
- Advance Auto Parts Offers Race Fans Once-in-a-Lifetime Trip to Attend Indianapolis 500, Coca-Cola 600Business Wire
- Third Point's Dan Loeb adds to its investment in Advance Auto Parts [Seeking Alpha]Seeking Alpha
- Baum Family Investments Embarks on Triple Net Lease Strategy with $250 Million Acquisition GoalPR Newswire
- Advance Auto Parts, Inc. (NYSE: AAP) had its price target lowered by analysts at Evercore ISI from $82.00 to $78.00. They now have an "in-line" rating on the stock.MarketBeat
AAP
Earnings
- 2/28/24 - Miss
AAP
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- AAP's page on the SEC website