Wedge Capital Management L L P NC lifted its holdings in shares of Potbelly Corp (NASDAQ:PBPB) by 21.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,756 shares of the company’s stock after purchasing an additional 15,756 shares during the period. Wedge Capital Management L L P NC’s holdings in Potbelly were worth $1,116,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBPB. Assenagon Asset Management S.A. bought a new stake in shares of Potbelly during the 3rd quarter worth $3,520,000. Stephens Investment Management Group LLC raised its stake in shares of Potbelly by 36.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 900,709 shares of the company’s stock worth $11,844,000 after purchasing an additional 242,123 shares during the period. Millennium Management LLC bought a new stake in shares of Potbelly during the 2nd quarter worth $2,044,000. Renaissance Technologies LLC raised its stake in shares of Potbelly by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,128,300 shares of the company’s stock worth $27,561,000 after purchasing an additional 133,900 shares during the period. Finally, Putnam Investments LLC raised its stake in shares of Potbelly by 698.3% during the 2nd quarter. Putnam Investments LLC now owns 135,470 shares of the company’s stock worth $1,754,000 after purchasing an additional 118,500 shares during the period. Institutional investors own 73.11% of the company’s stock.
Shares of PBPB opened at $11.61 on Friday. Potbelly Corp has a fifty-two week low of $10.91 and a fifty-two week high of $14.15. The stock has a market capitalization of $297.60 million, a P/E ratio of 37.45, a PEG ratio of 1.82 and a beta of 0.78.
PBPB has been the subject of several recent research reports. Maxim Group raised Potbelly from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $15.00 in a report on Wednesday, October 10th. BidaskClub lowered Potbelly from a “sell” rating to a “strong sell” rating in a report on Friday, October 5th. ValuEngine lowered Potbelly from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Zacks Investment Research raised Potbelly from a “sell” rating to a “hold” rating in a report on Saturday, August 11th.
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Potbelly Company Profile
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. It offers toasty warm sandwiches, salads, and other items. As of August 7, 2018, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, the United Kingdom, Canada, and India.
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