Essex Investment Management Co. LLC Makes New $2.11 Million Investment in Potbelly Corporation (NASDAQ:PBPB)

Essex Investment Management Co. LLC purchased a new position in Potbelly Corporation (NASDAQ:PBPB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 221,902 shares of the company’s stock, valued at approximately $2,110,000.

Other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in shares of Potbelly during the 4th quarter valued at $27,000. GAMMA Investing LLC raised its position in shares of Potbelly by 2,637.9% during the 1st quarter. GAMMA Investing LLC now owns 7,009 shares of the company’s stock valued at $737,000 after purchasing an additional 6,753 shares during the period. State of Wyoming raised its position in shares of Potbelly by 14.3% during the 4th quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after purchasing an additional 876 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Potbelly during the 4th quarter valued at $98,000. Finally, Wells Fargo & Company MN raised its position in shares of Potbelly by 50.6% during the 4th quarter. Wells Fargo & Company MN now owns 12,883 shares of the company’s stock valued at $121,000 after purchasing an additional 4,328 shares during the period. 72.60% of the stock is currently owned by institutional investors.

Potbelly Price Performance

PBPB stock opened at $12.12 on Tuesday. Potbelly Corporation has a 12 month low of $6.28 and a 12 month high of $13.48. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $11.63 and a 200 day moving average price of $10.76. The stock has a market cap of $365.66 million, a PE ratio of 8.66 and a beta of 1.69.

Analysts Set New Price Targets

Several analysts have recently commented on PBPB shares. Wall Street Zen downgraded shares of Potbelly from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Benchmark raised their target price on shares of Potbelly from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th.

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.