Irenic Dumps Most Papa John's Shares

2026-02-22 10:28:17 ET

According to an SEC filing dated Feb. 17, Irenic Capital Management LP reduced its position in Papa John's International (NASDAQ:PZZA) by 748,592 shares. The fund’s remaining stake, reported at quarter-end, was 325,108 shares worth $12.51 million.

Papa John's International, Inc. is a global pizza delivery and carryout brand with a network spanning over 5,600 restaurants across 50 countries and territories. The company has company-owned and franchised locations, supported by a commissary system that supplies ingredients and products to franchisees.

Irenic Capital Management sold the majority of its Papa John’s shares during the fourth quarter. The firm reduced its holdings by about 70%, from nearly 1.1 million shares to about 325,000.

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