Marshall Wace LLP Takes $438,000 Position in Potbelly Co. (NASDAQ:PBPB)

Marshall Wace LLP purchased a new position in shares of Potbelly Co. (NASDAQ:PBPB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 54,582 shares of the company’s stock, valued at approximately $438,000. Marshall Wace LLP owned about 0.18% of Potbelly at the end of the most recent reporting period.

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

Potbelly Trading Up 0.4 %

NASDAQ PBPB opened at $8.18 on Friday. Potbelly Co. has a 12 month low of $6.28 and a 12 month high of $14.36. The stock has a 50-day simple moving average of $7.81 and a 200 day simple moving average of $8.54. The company has a current ratio of 0.45, a quick ratio of 0.39 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $244.11 million, a PE ratio of 68.17 and a beta of 1.19.

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

Insider Activity at Potbelly

In other Potbelly news, major shareholder Nierenberg Investment Manageme bought 45,772 shares of Potbelly stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $296,602.56. Following the completion of the acquisition, the insider now owns 1,546,211 shares in the company, valued at approximately $10,019,447.28. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 9.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Craig Hallum dropped 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 reissued a “buy” rating and set a $16.00 price target on shares of Potbelly in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

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.