Voss Capital, LP

Voss Capital purchases 350,000 shares of PAR at $14.46 avg on 2026-06-11/12, raising stake to 5.12M shares; stock down 79.6% from 52-week high.

Voss Capital, a 10% owner, executed 18 separate purchases totaling 350,000 shares for $5,060,759.51 across two trading days at an average price of $14.46. This increased the firm's holdings from 4,775,000 shares to 5,125,000 shares, a net addition of +7.3% to their pre-transaction position. The stock is currently trading at $14.71, down 79.6% from its 52-week high of $72.15, and the company posted a net loss of $-16,169,000 in its most recent quarter despite annual revenue growth of +30.2%. The magnitude of capital deployed ($5.1M) and the multi-tranche execution pattern across two consecutive trading days suggest material conviction, though the company's unprofitable status and the stock's severe drawdown from peak levels underscore the execution risk inherent in the position.

10% Owner Voss Capital buys 200,005 shares in 21 transactions for $963,887.07 at XPOF

Voss Capital, a 10% owner of Xponential Fitness, executed 21 separate purchases totaling 200,005 shares for $963,887.07 over two days (May 19–20, 2026) at prices ranging from $4.64 to $5.50, with a blended average price of $4.82. The stock currently trades at $5.58, up modestly from the transaction prices, but sits -49.9% from its 52-week high of $11.14 and has declined -20.1% over 30 days and -32.7% over 90 days, indicating a sustained downtrend. The company's fundamentals are deteriorating: latest-quarter revenue is $2.2M with a net loss of $-725.0K, annual revenue declined -20.7% year-over-year, and the company was unprofitable in its most recent full fiscal year. Voss Capital's cross-ticker track record shows 20 prior buys with a 90-day win rate of only 15.00% and average 90-day returns of -36.4%, suggesting the insider's historical timing on open-market purchases has been poor across holdings. This substantial accumulation at depressed price levels against a backdrop of poor stock momentum, negative earnings, and declining revenue suggests either a forced liquidity need, a structural reposition, or conviction despite macro headwinds—but the track record offers limited comfort on execution quality.

Voss Capital (10% owner) purchases 719,900 shares for $10,504,711.63 across 22 transactions on 2026-05-14 and 2026-05-15.

Voss Capital, a 10% shareholder, executed 22 separate purchases totaling 719,900 shares for $10,504,711.63 at a blended average price of $14.59, increasing its holdings from 4,055,100 shares to 4,775,000 shares. The current stock price of $14.00 is -80.6% from the 52-week high of $72.15, and the stock has declined 32.4% over the past 90 days. At PAR, Voss Capital's 5 prior buys each saw 90-day declines ranging from -37.0% to -48.7%, with zero of those trades showing positive 90-day returns. The company generated revenue of $123,973,000.00 in its latest quarter but reported net income of -$16,169,000.00, reflecting ongoing unprofitability, while annual revenue growth reached +30.2% year-over-year. This large-scale accumulation occurs within a context of sustained operational losses and pronounced stock depreciation from recent highs.

10% owner Voss Capital buys 526,202 shares over 21 days for $14.7M; stock down 72.6% from 52-week high, now below all 10 purchase prices

Voss Capital executed 10 separate purchases totaling 526,202 shares for $14,669,702.64 between 2026-01-14 and 2026-02-04, with a blended average price of $27.88. The transactions occurred as PAR's stock has experienced a severe decline: the current price of $19.52 is -72.6% from the 52-week high of $71.23, and 30-day and 90-day returns were -14.2% and -43.1% respectively at time of filing, meaning all 10 purchases occurred at prices well above the current market level. The prior 4 buys at PAR in December 2025 and early January 2026 similarly resulted in negative returns within 30 days (-24.5% to -37.6%), indicating a pattern of purchases at descending prices without subsequent recovery. PAR remains unprofitable (full-year net income of $-18,177,000.00) despite positive annual revenue growth of +30.2%, creating fundamental uncertainty. This accumulation by a 10% owner during a steep drawdown, combined with the recurring pattern of purchases followed by further price declines and the company's ongoing losses, presents a material signal for investor attention regarding conviction-versus-capitulation dynamics and the sustainability of the underlying business.

Voss Capital (10% owner) bought 25,000 FLYW shares at $10.99 on 2026-02-13; stock down 44.4% from 52-week high.

Voss Capital purchased 25,000 shares at $10.99, increasing its stake from 2,275,000 to 2,300,000 shares. The stock is currently at $11.11, down 44.4% from its 52-week high of $19.99 and down 19.4% over the past 30 days. Across his cross-ticker track record of 20 prior open-market buys, Voss Capital's average 90-day return has been -8.6% with a 0.00% win rate, indicating a pattern of purchasing before continued weakness. At Flywire specifically, Voss has made 2 prior purchases (on 2025-12-31 and 2025-12-30), both showing negative 30-day returns of -11.5% and -8.8% respectively. The company has strong fundamentals—$200.1M quarterly revenue with +22.1% annual growth and $29.6M net income—but trades at an extreme P/E of 555.50, suggesting the market has priced in significant future growth or the stock is still recovering from previous overvaluation.

Voss Capital, LP (10% owner) acquired 226,112 shares in 2 purchases for $3,203,277.54 at blended avg $14.17; stock now $14.50 (+7.5% in 30 days)

Voss Capital, LP, a substantial 10% shareholder in Flywire Corp, executed 2 separate open-market purchases totaling 226,112 shares for $3,203,277.54 at a blended average price of $14.17 on 2025-12-30 and 2025-12-31. This accumulation increased holdings from 9,443,888 to 9,670,000 shares (+2.4%). The timing is noteworthy: the stock trades at $14.50 today, 31.8% below its 52-week high of $21.27, yet the 30-day return has been +7.5%, suggesting a recent recovery. Voss Capital's cross-ticker insider history shows a 100% win rate over 90-day periods across 13 prior buys (average 90-day return +7.8%), though this track record spans multiple tickers, not Flywire-specific trading. The company itself shows solid growth (revenue +22.1% YoY, $200.1M latest quarter, $29.6M net income) but carries an elevated P/E of 725.00 relative to earnings quality, leaving valuation questions unresolved by this filing alone.

10% owner Voss Capital bought 196,035 shares across 4 transactions for $7.1M at $36.24 blended average

Voss Capital, a 10% shareholder, executed 4 separate purchases totaling 196,035 shares for $7,103,701.99 between 2025-12-30 and 2026-01-05, raising its position from 3,417,863 to 3,613,898 shares. The blended average transaction price of $36.24 contrasts sharply with the current price of $34.76, placing these purchases at a 4.2% premium to today's market and -54.3% below the 52-week high of $76.00. The company is unprofitable (net income of -$18,177,000.00 in the latest quarter and negative full-year results), with revenue down -15.8% year-over-year, indicating structural business challenges. Voss's cross-ticker track record shows a 100.00% win rate on 90-day returns with an average 90d return of +7.8%, but this historical outperformance does not extend to same-ticker outcomes at PAR, and purchases during a period of deteriorating fundamentals and stock decline warrant investor scrutiny of the rationale and timing underlying this $7.1M capital commitment.

Voss Capital (10% owner) buys 104,183 shares of RNTX at $1.22; holdings now 926,441 shares (+12.7%). Stock -54.8% from 52-week high.

Voss Capital has executed four separate buy transactions at RNTX between 2025-10-24 and today (2025-11-14), accumulating 104,183 shares at $1.22 in this latest purchase. The stock trades 54.8% below its 52-week high of $2.70, yet the insider continues to add to its position. While Voss Capital's cross-ticker track record shows an average 90-day return of +7.8% with a 100.00% win rate across 8 prior buys at other companies, the four current trades at RNTX remain too recent to measure meaningful outcomes. The company is unprofitable (net income $-5.6M) and reported zero revenue in its latest quarter, making this an accumulation in a distressed biotech. The clustering of purchases over three weeks suggests sustained conviction despite the depressed valuation.

10% owner Voss Capital buys 306,050 shares (306.0K) across 4 transactions for $423,465.64, expanding position 157.8%

Voss Capital, a 10% beneficial owner, executed 4 separate purchases totaling 306,050 shares at a blended average price of $1.38 between October 24–28, 2025, expanding its stake from 193,950 shares to 500,000 shares (+157.8%). The purchases occurred as the stock traded near the lower end of its 52-week range ($1.08–$2.70), currently down 51.1% from its 52-week high but up 11.9% over the past 30 days. Rein Therapeutics is unprofitable (latest quarter revenue $0.00, full-year net income negative), with a market cap of $30,762,742.56—a small-cap context where concentrated ownership moves and financial distress typically carry elevated risk. Voss Capital's cross-ticker track record shows 4 prior open-market buys with 100.00% 90-day win rate and average 90-day return of 7.8%, but this baseline does not establish predictive accuracy at RNTX specifically, where this position now represents material concentration within the small float.