Potbelly (NASDAQ:PBPB) Lowered to Hold Rating by StockNews.com

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

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

Potbelly Price Performance

Shares of PBPB opened at $9.50 on Wednesday. The business’s 50-day moving average is $11.44 and its 200-day moving average is $9.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market capitalization of $283.86 million, a price-to-earnings ratio of 7.60 and a beta of 1.50. Potbelly has a fifty-two week low of $6.28 and a fifty-two week high of $13.48.

Insider Buying and Selling

In other Potbelly news, major shareholder David Nierenberg acquired 7,600 shares of Potbelly stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $9.23 per share, with a total value of $70,148.00. Following the purchase, the insider now owns 101,998 shares in the company, valued at approximately $941,441.54. This trade represents a 8.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Potbelly

Institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its stake in shares of Potbelly by 4.4% during the 4th quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company’s stock worth $10,935,000 after acquiring an additional 49,000 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in Potbelly by 9.3% in the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company’s stock worth $9,291,000 after purchasing an additional 83,748 shares during the last quarter. Geode Capital Management LLC boosted its position in Potbelly by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 617,199 shares of the company’s stock worth $5,815,000 after purchasing an additional 8,863 shares during the period. Hodges Capital Management Inc. grew its holdings in Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock valued at $5,086,000 after purchasing an additional 159,900 shares during the last quarter. Finally, Monimus Capital Management LP bought a new position in shares of Potbelly in the fourth quarter valued at approximately $4,901,000. 72.60% of the stock is currently owned by 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.