Potbelly’s (PBPB) Market Perform Rating Reaffirmed at William Blair

Potbelly (NASDAQ:PBPB)‘s stock had its “market perform” rating reaffirmed by equities research analysts at William Blair in a report released on Friday,RTT News reports.

Separately, Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Potbelly in a research report on Friday.

Potbelly Stock Performance

NASDAQ:PBPB traded down $1.87 during mid-day trading on Friday, reaching $9.95. 445,560 shares of the company’s stock were exchanged, compared to its average volume of 249,005. Potbelly has a one year low of $6.28 and a one year high of $13.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The business’s fifty day simple moving average is $11.38 and its two-hundred day simple moving average is $9.64. The firm has a market capitalization of $297.72 million, a PE ratio of 7.96 and a beta of 1.34.

Insider Transactions at Potbelly

In other news, major shareholder David Nierenberg bought 7,600 shares of the stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $9.23 per share, with a total value of $70,148.00. Following the acquisition, the insider now directly owns 101,998 shares in the company, valued at approximately $941,441.54. This trade represents a 8.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Potbelly

Institutional investors have recently added to or reduced their stakes in the business. Monimus Capital Management LP acquired a new position in shares of Potbelly during the fourth quarter worth $4,901,000. Cerity Partners LLC bought a new position in shares of Potbelly during the third quarter worth about $2,332,000. Marshall Wace LLP boosted its holdings in Potbelly by 758.4% in the fourth quarter. Marshall Wace LLP now owns 195,775 shares of the company’s stock valued at $1,844,000 after acquiring an additional 172,969 shares during the last quarter. Vantage Consulting Group Inc acquired a new stake in Potbelly during the 4th quarter valued at approximately $1,553,000. Finally, Portolan Capital Management LLC lifted its position in shares of Potbelly by 21.7% in the 3rd quarter. Portolan Capital Management LLC now owns 902,529 shares of the company’s stock worth $7,527,000 after purchasing an additional 160,763 shares during the period. 72.60% of the stock is owned by institutional investors.

Potbelly Company 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.