Papa John’s Int’l, Inc. (NASDAQ:PZZA) Short Interest Update

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Papa John’s Int’l, Inc. (NASDAQ:PZZA) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 5,642,600 shares, a drop of 20.2% from the May 30th total of 7,072,800 shares. Based on an average daily trading volume, of 778,000 shares, the days-to-cover ratio is currently 7.3 days. Currently, 26.0% of the shares of the stock are sold short.

In related news, major shareholder John H. Schnatter sold 3,451,413 shares of Papa John’s Int’l stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $45.63, for a total transaction of $157,487,975.19. Following the completion of the sale, the insider now owns 5,509,583 shares in the company, valued at approximately $251,402,272.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder John H. Schnatter sold 114,061 shares of Papa John’s Int’l stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $52.69, for a total value of $6,009,874.09. Following the sale, the insider now owns 9,239,507 shares of the company’s stock, valued at approximately $486,829,623.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,765,557 shares of company stock valued at $173,644,058. Company insiders own 43.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PZZA. Parallel Advisors LLC acquired a new position in shares of Papa John’s Int’l in the 1st quarter valued at about $26,000. Massey Quick Simon & CO. LLC acquired a new position in Papa John’s Int’l during the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. lifted its position in Papa John’s Int’l by 140.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,114 shares of the company’s stock worth $44,000 after acquiring an additional 650 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new position in Papa John’s Int’l during the 1st quarter worth approximately $61,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Papa John’s Int’l during the 1st quarter worth approximately $138,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

PZZA traded down $0.30 during midday trading on Thursday, hitting $45.67. The company’s stock had a trading volume of 449,084 shares, compared to its average volume of 972,902. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 3.30 and a beta of 0.44. The firm has a 50-day simple moving average of $47.19. Papa John’s Int’l has a 52-week low of $38.05 and a 52-week high of $60.56.

Papa John’s Int’l (NASDAQ:PZZA) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. The company had revenue of $398.41 million during the quarter, compared to analysts’ expectations of $384.67 million. Papa John’s Int’l had a negative return on equity of 13.51% and a negative net margin of 1.09%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, sell-side analysts expect that Papa John’s Int’l will post 1.13 earnings per share for the current year.

A number of research firms recently commented on PZZA. Stephens set a $198.00 price objective on HubSpot and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Credit Suisse Group began coverage on Arco Platform in a research report on Tuesday, June 25th. They set a “neutral” rating for the company. Citigroup lifted their price objective on Cyberark Software from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. BidaskClub upgraded YY from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 30th. Finally, ValuEngine upgraded Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $54.83.

About Papa John’s Int’l

Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.

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