PAR Broker Data, page-27

An update for this week of PAR broker data (only the first couple of days have settled within this data set so stay tuned for further data once settled)
Major Buyers:

• Ord Minnett (Institutional)
• Bell Potter (Institutional)
• UBS (Institutional)
• Morgan Stanley (Institutional)
• Goldman Sachs (Institutional)

Major Sellers:

• Pershing (Institutional)
• Nomura (Institutional)
• Commonwealth (Retail/Mum and Dad Investors)
• Negligible small sales from other Institutional

Conclusions:
Institutional investors (banks/funds) continue to control PAR's share price for the sake of accumulation. Retail continue to get frustrated with this horizontal price movement and continue to sell straight to the banks at this level. Interestingly this week we see Pershing and Nomura starting to sell to the banks also, will follow this as the unassigned transactions settle and see if they continued to offload late this week. GLTAH, DYOR.