Victory Capital Management Inc. Has $706,000 Stake in Potbelly Corporation (NASDAQ:PBPB)

Key Points

• Victory Capital Management Inc. reduced its stake in Potbelly Corporation by 27.0% during the first quarter, selling 27,465 shares, and currently owns a total of 74,200 shares worth approximately $706,000.
• Several other large investors increased their positions in Potbelly, with GAMMA Investing LLC notably growing its stake by 2,637.9% during the same period.
• Potbelly's stock recently fell by 4.6%, trading at $11.48, while the company's market cap is currently around $346.35 million.

Victory Capital Management Inc. lowered its holdings in shares of Potbelly Corporation (NASDAQ:PBPB - Free Report) by 27.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,200 shares of the company's stock after selling 27,465 shares during the quarter. Victory Capital Management Inc. owned about 0.25% of Potbelly worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Marshall Wace LLP lifted its position in shares of Potbelly by 758.4% during the 4th quarter. Marshall Wace LLP now owns 195,775 shares of the company's stock worth $1,844,000 after purchasing an additional 172,969 shares during the last quarter. American Century Companies Inc. increased its holdings in Potbelly by 139.3% during the 4th quarter. American Century Companies Inc. now owns 147,147 shares of the company's stock valued at $1,386,000 after purchasing an additional 85,651 shares in the last quarter. Portolan Capital Management LLC grew its stake in shares of Potbelly by 9.3% during the fourth quarter. Portolan Capital Management LLC now owns 986,277 shares of the company's stock valued at $9,291,000 after purchasing an additional 83,748 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Potbelly in the fourth quarter worth about $471,000. Finally, Trexquant Investment LP grew its stake in shares of Potbelly by 64.5% during the fourth quarter. Trexquant Investment LP now owns 87,976 shares of the company's stock worth $829,000 after purchasing an additional 34,480 shares during the period. 72.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PBPB. Benchmark lifted their price target 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. Wall Street Zen cut Potbelly from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

Potbelly Stock Performance

Shares of PBPB traded down $0.56 during midday trading on Tuesday, reaching $10.96. 99,358 shares of the stock were exchanged, compared to its average volume of 253,959. Potbelly Corporation has a twelve month low of $6.46 and a twelve month high of $13.48. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.08. The stock's 50 day simple moving average is $11.81 and its 200 day simple moving average is $10.81. The company has a market cap of $330.53 million, a P/E ratio of 7.94 and a beta of 1.55.

Potbelly Profile

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.