180 Degree Capital has taken a 6% stake in sandwich chain Potbelly Corporation (NASDAQ: PBPB).
According to its website, 180 Degree is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what it believes are substantially undervalued small, publicly traded companies that have potential for significant turnarounds.
In the filing 180 Degree included general 13D language in the "Purpose of transaction".
According to the 13D filing, 180 Degree's recent transactions in PBPB were in the $3.96 to $4.32 per share range since December 2019. Shares closed today at $4.12 per share.
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