Potbelly Corporation (NASDAQ:PBPB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Potbelly Corporation (NASDAQ:PBPB) by 2,637.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,009 shares of the company’s stock after acquiring an additional 6,753 shares during the period. GAMMA Investing LLC’s holdings in Potbelly were worth $737,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in Potbelly during the fourth quarter worth $27,000. State of Wyoming raised its position in Potbelly by 14.3% during the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock worth $66,000 after acquiring an additional 876 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Potbelly during the fourth quarter worth $98,000. Wells Fargo & Company MN raised its position in Potbelly by 50.6% during the fourth quarter. Wells Fargo & Company MN now owns 12,883 shares of the company’s stock worth $121,000 after acquiring an additional 4,328 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new position in Potbelly during the fourth quarter worth $160,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Potbelly Price Performance

Shares of NASDAQ PBPB opened at $10.54 on Wednesday. The firm has a 50-day simple moving average of $9.55 and a 200-day simple moving average of $10.19. The stock has a market capitalization of $317.99 million, a price-to-earnings ratio of 7.53 and a beta of 1.68. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.08. Potbelly Corporation has a 52 week low of $6.28 and a 52 week high of $13.48.

Insider Activity at Potbelly

In other news, major shareholder David Nierenberg acquired 22,169 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average price of $9.36 per share, with a total value of $207,501.84. Following the completion of the acquisition, the insider now owns 124,167 shares of the company’s stock, valued at $1,162,203.12. This trade represents a 21.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBPB. Wall Street Zen cut shares of Potbelly from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. William Blair reiterated a “market perform” rating on shares of Potbelly in a research report on Thursday, March 20th. Finally, Benchmark reiterated a “buy” rating and issued a $16.00 target price on shares of Potbelly in a research report on Friday, March 7th.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.