36,223 Shares in Potbelly Co. (NASDAQ:PBPB) Purchased by 272 Capital LP

272 Capital LP acquired a new stake in Potbelly Co. (NASDAQ:PBPB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,223 shares of the company’s stock, valued at approximately $291,000. 272 Capital LP owned 0.12% of Potbelly at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Silvercrest Asset Management Group LLC acquired a new stake in Potbelly in the 1st quarter valued at $5,820,000. Russell Investments Group Ltd. increased its stake in Potbelly by 224.9% during the 1st quarter. Russell Investments Group Ltd. now owns 300,736 shares of the company’s stock worth $3,642,000 after buying an additional 208,170 shares in the last quarter. Western Standard LLC acquired a new position in shares of Potbelly during the first quarter valued at approximately $2,208,000. Hodges Capital Management Inc. lifted its position in shares of Potbelly by 152.1% in the second quarter. Hodges Capital Management Inc. now owns 293,570 shares of the company’s stock valued at $2,357,000 after acquiring an additional 177,100 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Potbelly by 17.7% in the second quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company’s stock worth $8,121,000 after acquiring an additional 152,200 shares during the last quarter. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Potbelly

In related news, major shareholder Nierenberg Investment Manageme purchased 23,394 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $6.62 per share, for a total transaction of $154,868.28. Following the acquisition, the insider now directly owns 1,561,985 shares in the company, valued at $10,340,340.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Potbelly Stock Up 0.2 %

NASDAQ PBPB opened at $8.24 on Tuesday. The business’s fifty day simple moving average is $7.61 and its 200-day simple moving average is $8.84. The company has a quick ratio of 0.39, a current ratio of 0.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $245.90 million, a PE ratio of 68.67 and a beta of 1.18. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $14.36.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Potbelly had a net margin of 7.58% and a return on equity of 21.42%. The business had revenue of $119.70 million during the quarter, compared to analysts’ expectations of $119.00 million. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, equities analysts anticipate that Potbelly Co. will post 0.2 earnings per share for the current year.

About Potbelly

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.