StockNews.com Downgrades Potbelly (NASDAQ:PBPB) to Hold

Potbelly (NASDAQ:PBPB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other analysts also recently issued reports about the company. William Blair reaffirmed a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. Benchmark restated a “buy” rating and set a $16.00 target price on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Trading Up 1.6 %

NASDAQ PBPB opened at $9.56 on Wednesday. Potbelly has a 52 week low of $6.28 and a 52 week high of $13.48. The firm has a 50 day moving average of $11.40 and a two-hundred day moving average of $9.82. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $285.65 million, a PE ratio of 7.65 and a beta of 1.50.

Insider Buying and Selling at Potbelly

In related news, major shareholder David Nierenberg purchased 7,600 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $9.23 per share, with a total value of $70,148.00. Following the completion of the acquisition, the insider now directly owns 101,998 shares in the company, valued at $941,441.54. This represents a 8.05 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.10% of the stock is owned by company insiders.

Institutional Trading of Potbelly

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming increased its holdings in shares of Potbelly by 14.3% in the fourth 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. XTX Topco Ltd grew its position in Potbelly by 4.8% in the 3rd quarter. XTX Topco Ltd now owns 31,984 shares of the company’s stock valued at $267,000 after buying an additional 1,456 shares during the last quarter. Bank of America Corp DE increased its stake in Potbelly by 10.5% in the 4th quarter. Bank of America Corp DE now owns 25,491 shares of the company’s stock valued at $240,000 after buying an additional 2,418 shares during the period. Aquatic Capital Management LLC purchased a new position in Potbelly during the 4th quarter worth $27,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Potbelly by 28.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,400 shares of the company’s stock worth $124,000 after acquiring an additional 3,000 shares during the period. 72.60% of the stock is owned by hedge funds and other 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.