Newtyn Management LLC Has $42.13 Million Holdings in PAR Technology Corporation $PAR

Key Points

• Newtyn Management reduced its PAR Technology position by 11.5% in the second quarter, selling 313,942 shares. It still held 2.42 million shares valued at approximately $42.1 million, representing about 5.85% of PAR and 5.4% of its portfolio.
• PAR Technology reported quarterly revenue of $133.4 million, up 18.7% year over year, and earnings of $0.18 per share, beating analyst expectations of $0.12. Despite the stronger results, the company posted a negative net margin and analysts expect a full-year loss.
• Insider activity was mixed: an insider sold 20,000 shares, while major shareholder Voss Capital bought 193,751 shares. Analysts maintain a “Moderate Buy” consensus, with an average price target of $24.61 versus the stock’s reported price of $19.32.

Newtyn Management LLC reduced its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 11.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,418,754 shares of the software maker's stock after selling 313,942 shares during the period. PAR Technology makes up about 5.4% of Newtyn Management LLC's investment portfolio, making the stock its 5th largest position. Newtyn Management LLC owned approximately 5.85% of PAR Technology worth $42,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in PAR Technology in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new position in shares of PAR Technology in the 4th quarter worth approximately $35,000. Bamco Inc. NY acquired a new position in shares of PAR Technology in the 2nd quarter worth approximately $38,000. Tower Research Capital LLC TRC raised its holdings in shares of PAR Technology by 278.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the software maker's stock worth $216,000 after purchasing an additional 2,291 shares in the last quarter. Finally, MidFirst Bank bought a new stake in shares of PAR Technology in the 4th quarter worth approximately $113,000.

Insider Activity

In other news, insider Cathy A. King sold 20,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the transaction, the insider owned 122,919 shares in the company, valued at $1,890,494.22. This represents a 13.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 193,751 shares of PAR Technology stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $14.15 per share, with a total value of $2,741,576.65. Following the completion of the transaction, the insider directly owned 4,968,751 shares of the company's stock, valued at $70,307,826.65. This represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 361,518 shares of company stock worth $5,261,827. 2.30% of the stock is owned by corporate insiders.

PAR Technology Stock Up 0.9%

PAR stock opened at $19.32 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The firm has a market capitalization of $799.13 million, a P/E ratio of -10.98 and a beta of 1.33. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $52.98. The company's 50 day simple moving average is $17.50 and its 200-day simple moving average is $16.20.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The firm had revenue of $133.41 million during the quarter, compared to analyst estimates of $124.66 million. During the same quarter last year, the business posted $0.03 EPS. The company's revenue was up 18.7% on a year-over-year basis. As a group, equities research analysts anticipate that PAR Technology Corporation will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

PAR has been the subject of a number of research reports. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. The Goldman Sachs Group upped their price target on PAR Technology from $18.00 to $20.50 and gave the company a "neutral" rating in a report on Thursday, July 9th. BTIG Research cut their price objective on PAR Technology from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, August 7th. UBS Group set a $16.00 price objective on PAR Technology in a research note on Tuesday, June 9th. Finally, Weiss Ratings upgraded PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.61.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company's platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR's integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.

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