Yesterday, three insiders at Kona Grill Inc. (NASDAQ:KONA) sold their shares. Berke Bakay, President and CEO at the firm, unloaded 100,000 shares for $17.58 per share, as well as company Director Richard Hauser, who sold the same amount of shares for the same price. Furthermore, James Jundt, another Director at the $208.9 million market cap restaurant firm, unloaded a total of 100,000 shares in two separate transactions yesterday. Jundt disposed of 62,000 and 38,000 shares at the aforementioned price. This concludes the biggest insider stock sale at Kona Grill this year.
On another note, this quarter showed some movement amongst hedge funds, as some sold out their shareholder position and others newly entered a position at the firm. While Mark Diker’s Diker Management no longer holds a position at Kona, Richard Drierhaus’ hedge fund, Drierhaus Capital entered a new position, acquiring 108,708 shares, with a value of $2.2 million. However, the strongest hedge fund remains Renaissance Technologies, run by Jim Simons, which holds 453,127 shares, worth $9.2 million.