Punch & Associates Investment Management Inc. Buys New Stake in Potbelly Co. (NASDAQ:PBPB)

Punch & Associates Investment Management Inc. bought a new stake in Potbelly Co. (NASDAQ:PBPB) during the 1st quarter, HoldingsChannel reports. The fund bought 193,372 shares of the company’s stock, valued at approximately $1,143,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Morgan Stanley increased its position in Potbelly by 149.2% in the 1st quarter. Morgan Stanley now owns 86,927 shares of the company’s stock valued at $514,000 after acquiring an additional 52,046 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Potbelly in the 1st quarter valued at approximately $65,000. Armistice Capital LLC acquired a new stake in Potbelly in the 1st quarter valued at approximately $2,406,000. Walleye Trading LLC acquired a new stake in Potbelly in the 1st quarter valued at approximately $175,000. Finally, Walleye Capital LLC acquired a new stake in Potbelly in the 1st quarter valued at approximately $305,000. Hedge funds and other institutional investors own 47.66% of the company’s stock.

Separately, Zacks Investment Research upgraded Potbelly from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Thursday, July 15th.

Shares of PBPB stock opened at $6.58 on Thursday. Potbelly Co. has a 1 year low of $2.38 and a 1 year high of $9.07. The firm has a market cap of $184.04 million, a PE ratio of -2.41 and a beta of 1.60. The firm’s fifty day moving average price is $7.54. The company has a current ratio of 0.36, a quick ratio of 0.32 and a debt-to-equity ratio of 1.90.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Thursday, May 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.02. Potbelly had a negative return on equity of 274.80% and a negative net margin of 23.61%. The company had revenue of $78.06 million for the quarter, compared to analysts’ expectations of $75.75 million. As a group, sell-side analysts predict that Potbelly Co. will post -0.67 EPS for the current year.

In other news, SVP Jeffrey Douglas sold 3,750 shares of the firm’s stock in a transaction on Wednesday, June 23rd. The stock was sold at an average price of $8.91, for a total transaction of $33,412.50. Following the completion of the sale, the senior vice president now directly owns 160,321 shares of the company’s stock, valued at approximately $1,428,460.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Marla C. Gottschalk sold 4,200 shares of the firm’s stock in a transaction on Friday, May 7th. The stock was sold at an average price of $7.40, for a total value of $31,080.00. Following the sale, the director now directly owns 144,221 shares of the company’s stock, valued at $1,067,235.40. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of December 27, 2020, the company operated approximately 400 shops and 46 franchisees operated shops in the United States.

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Institutional Ownership by Quarter for Potbelly (NASDAQ:PBPB)

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