Blue Clay Capital Management Lowers stake in Potbelly Corp (PBPB)

Potbelly Corp (PBPB) : Blue Clay Capital Management reduced its stake in Potbelly Corp by 0.82% during the most recent quarter end. The investment management company now holds a total of 121,613 shares of Potbelly Corp which is valued at $1,568,808 after selling 1,000 shares in Potbelly Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Potbelly Corp makes up approximately 2.04% of Blue Clay Capital Management’s portfolio.

Other Hedge Funds, Including , Driehaus Capital Management sold out all of its stake in PBPB during the most recent quarter. The investment firm sold 269,994 shares of PBPB which is valued $3,482,923.Kerrisdale Advisers reduced its stake in PBPB by selling 267,445 shares or 73.57% in the most recent quarter. The Hedge Fund company now holds 96,081 shares of PBPB which is valued at $1,239,445. Potbelly Corp makes up approx 0.31% of Kerrisdale Advisers’s portfolio.Comerica Bank reduced its stake in PBPB by selling 88,420 shares or 28.59% in the most recent quarter. The Hedge Fund company now holds 220,888 shares of PBPB which is valued at $2,849,455. Potbelly Corp makes up approx 0.02% of Comerica Bank’s portfolio. State Board Of Administration Of Florida Retirement System added PBPB to its portfolio by purchasing 23,714 company shares during the most recent quarter which is valued at $307,096. Skylands Capital added PBPB to its portfolio by purchasing 41,700 company shares during the most recent quarter which is valued at $540,849. Potbelly Corp makes up approx 0.08% of Skylands Capital’s portfolio.

Potbelly Corp closed down -0.16 points or -1.23% at $12.8 with 1,31,388 shares getting traded on Thursday. Post opening the session at $12.99, the shares hit an intraday low of $12.72 and an intraday high of $13.05 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Potbelly Corp reported $0.13 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $0.13. The company had revenue of $105.00 million for the quarter, compared to analysts expectations of $105.67 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Potbelly Corp. Shares were Downgraded by Robert W. Baird on Aug 1, 2016 to ” Neutral” and Lowered the Price Target to $ 13 from a previous price target of $16 .

Potbelly Corporation is a neighborhood sandwich concept offering sandwiches salads and other menu items. The Company owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company also has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. The Company has a domestic base of around 351 shops in 26 states of the United States and the District of Columbia consisting of approximately 334 Company-operated shops and around 17 franchisee-operated shops. The Company also has around 12 franchised shops in the Middle East. The Company’s menu includes sandwiches salads soups chili sides desserts and in its breakfast locations breakfast sandwiches and steel cut oatmeal. The Company also offers hand-dipped shakes and smoothies. The Company’s cookie offerings include Oatmeal Chocolate Chip Sugar and Chocolate Brownie cookies.

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