Laughing Water Capital: “PAR Will Be the Most Valuable Asset in the Restaurant Space”

Laughing Water Capital, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth quarter of 2021, an investment in Class A shares of Laughing Water Capital (“LWC”) returned less than 1% vs 11.0% and 2.1% for the SP500TR and R2000 respectively. For the full year, LWC returned approximately 39%, vs. 28.7% and 14.8% for the SP500TR and R2000 respectively.  Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Laughing Water Capital, in its Q4 2021 investor letter, mentioned PAR Technology Corporation (NYSE: PAR) and discussed its stance on the firm. PAR Technology Corporation is a New Hartford, New York-based systems and service solutions provider with a $1.1 billion market capitalization. PAR delivered a -21.45% return since the beginning of the year, while its 12-month returns are down by -51.42%. The stock closed at $41.45 per share on February 19, 2022.

Here is what Laughing Water Capital has to say about PAR Technology Corporation in its Q4 2021 investor letter:

“PAR Technology (PAR) – PAR, our restaurant technology business, detracted from performance over the past year as growth stocks were broadly punished. However, the company continues to execute, and is likely to sell its defense electronics business in the near to intermediate term, and also continue to expand its restaurant platform offering. With time I continue to believe that PAR will be the most valuable asset in the restaurant space, and that we will be well rewarded for our patience.”

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Our calculations show that PAR Technology Corporation (NYSE: PAR) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. PAR was in 23 hedge fund portfolios at the end of the third quarter of 2021, compared to 23 funds in the previous quarter. PAR Technology Corporation (NYSE: PAR) delivered a -33.91% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on PAR in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.