James Simms, the recently appointed Director of PAR Technology Corporation (NYSE:PAR), sold his company shares today, making this the third sell executed over the past month. The director of this $64 million market cap technology business sold 861 shares on Thursday and another 1,200 shares, directly, on Friday, at a price of $4.2 per share, bringing his total of beneficially owned securities down to 38,439. Three weeks ago, Simms had already sold a little over 20,000 shares in another double-dated swoop, receiving $4.48 per share.
Although insider purchases at PAR have stagnated since March of this year, when CEO Ronald Casciano purchased 1,000 shares for $5.15 a share, some hedge funds remain confident in the company. Jim Simon’s hedge fund, Renaissance Technologies, for example, held its 109,200 shares in the company this quarter, with a value of $534,000. And while Peter Schliemann’s Rutabaga Capital Management decreased its portfolio percentage by 25% in the past quarter, the hedge fund still owns 389,685 shares, worth $1.9 million.
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