William Blair Analysts Boost Earnings Estimates for Potbelly

Potbelly Co. (NASDAQ:PBPB) – Investment analysts at William Blair lifted their FY2024 earnings estimates for shares of Potbelly in a research note issued on Monday, January 13th. William Blair analyst S. Zackfia now forecasts that the company will earn $0.24 per share for the year, up from their previous estimate of $0.21. The consensus estimate for Potbelly’s current full-year earnings is $0.21 per share. William Blair also issued estimates for Potbelly’s Q4 2024 earnings at $0.06 EPS, Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.09 EPS and Q4 2025 earnings at $0.07 EPS.

Potbelly Price Performance

Potbelly stock opened at $10.37 on Wednesday. The company has a 50-day moving average price of $9.73 and a 200 day moving average price of $8.45. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. Potbelly has a 12-month low of $6.28 and a 12-month high of $14.36. The stock has a market cap of $310.45 million, a P/E ratio of 8.30 and a beta of 1.32.

Hedge Funds Weigh In On Potbelly

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in Potbelly by 1,101.9% in the third quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after purchasing an additional 7,956 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Potbelly in the 3rd quarter valued at $87,000. The Manufacturers Life Insurance Company bought a new position in shares of Potbelly in the 2nd quarter valued at $86,000. Quarry LP grew its position in Potbelly by 662.9% during the 3rd quarter. Quarry LP now owns 10,925 shares of the company’s stock worth $91,000 after acquiring an additional 9,493 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in Potbelly by 47.9% during the 2nd quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock worth $127,000 after buying an additional 5,118 shares during the period. Institutional investors and hedge funds own 72.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder David Nierenberg purchased 4,740 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $9.36 per share, with a total value of $44,366.40. Following the purchase, the insider now owns 3,150 shares of the company’s stock, valued at $29,484. This trade represents a -298.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 9.10% of the company’s stock.

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.