Papa John's slumps as takeover post removed
11/11/2025 20:50
** Papa John's PZZA.O shares down ~4% to $42.23 on Tuesday, after shares jumped ~7% in prior session on takeover report
** A report by UK business news site ABC Money reported on Monday that PZZA was nearing a deal to go private with an investor group led by TriArtisan Capital Advisors at $65 a share
** But a person familiar with the matter told Reuters the report, which was based on individuals familiar with the negotiations, wasn't true
** Hunterbrook noted on Tuesday that the takeover story was removed from ABC News website
** PZZA shares now on track to close below 200-day moving average for sixth straight session after briefly climbing above the resistance level on Monday
** Stock on track for seventh decline in past nine sessions
** Of the 17 analysts that cover PZZA, the breakdown of recommendations is 7 "strong buy" or "buy," and 10 "hold" ratings; median price target of $48 is down from $50 a month ago
** PZZA among stocks with highest proportion of retail trading on Monday, according to Goldman Sachs analysis, putting it on the list between 2-5 times over the past month
(Reporting by Chuck Mikolajczak)
((charles.mikolajczak@tr.com ; @chuckmik.bsky.social))