Oppenheimer Asset Management Inc. Invests $137,000 in Potbelly Co. (NASDAQ:PBPB)

Oppenheimer Asset Management Inc. bought a new stake in Potbelly Co. (NASDAQ:PBPB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,097 shares of the company’s stock, valued at approximately $137,000. Oppenheimer Asset Management Inc. owned about 0.06% of Potbelly as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Potbelly during the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC grew its position in Potbelly by 9,350.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the company’s stock valued at $63,000 after purchasing an additional 7,761 shares in the last quarter. Quest Partners LLC grew its position in Potbelly by 47.9% in the second quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock valued at $127,000 after purchasing an additional 5,118 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Potbelly in the 4th quarter valued at $216,000. Finally, BNP Paribas Financial Markets lifted its position in Potbelly by 7.0% during the 1st quarter. BNP Paribas Financial Markets now owns 22,385 shares of the company’s stock worth $271,000 after buying an additional 1,472 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Craig Hallum decreased their price objective on Potbelly from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Potbelly in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Potbelly Stock Down 1.6 %

Potbelly stock opened at $8.22 on Monday. Potbelly Co. has a fifty-two week low of $6.28 and a fifty-two week high of $14.36. The firm has a market capitalization of $245.30 million, a PE ratio of 68.50 and a beta of 1.18. The company’s 50-day moving average is $7.59 and its 200-day moving average is $8.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.45 and a quick ratio of 0.39.

Potbelly (NASDAQ:PBPB) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Potbelly had a return on equity of 21.42% and a net margin of 7.58%. The firm had revenue of $119.70 million for the quarter, compared to analyst estimates of $119.00 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. Sell-side analysts anticipate that Potbelly Co. will post 0.2 earnings per share for the current year.

Insider Activity at Potbelly

In related news, major shareholder Nierenberg Investment Manageme acquired 23,394 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $6.62 per share, with a total value of $154,868.28. Following the completion of the transaction, the insider now directly owns 1,561,985 shares of the company’s stock, valued at $10,340,340.70. The acquisition 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.

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.