Collectors Universe Investor Seeks to Replace Board

One of the largest shareholders in Collectors Universe Inc. is seeking to replace its board, arguing the company could be worth $100 a share within the next three years under the right leadership. Failing that, it believes the company -- which opened at $26.99 Thursday -- should consider going private.

Alta Fox Capital Management, which owns a 5.4% stake in the authentication company, argued in a letter to shareholders Thursday that there are several levers it could pull to drive operational efficiency, profitable digital innovation, and shareholder engagement. But, in order to do so, it said it needs a more engaged board.