Renaissance Technologies LLC Has $10.27 Million Stake in Potbelly Co. (NASDAQ:PBPB)

Renaissance Technologies LLC lessened its position in Potbelly Co. (NASDAQ:PBPB) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,278,854 shares of the company’s stock after selling 105,594 shares during the period. Renaissance Technologies LLC owned 4.29% of Potbelly worth $10,269,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of Potbelly by 7.0% in the first quarter. BNP Paribas Financial Markets now owns 22,385 shares of the company’s stock valued at $271,000 after buying an additional 1,472 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Potbelly during the second quarter valued at $25,000. American Century Companies Inc. lifted its holdings in shares of Potbelly by 7.7% during the second quarter. American Century Companies Inc. now owns 55,969 shares of the company’s stock worth $449,000 after purchasing an additional 3,999 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Potbelly by 8.8% in the first quarter. Janney Montgomery Scott LLC now owns 61,693 shares of the company’s stock worth $747,000 after purchasing an additional 4,971 shares during the last quarter. Finally, Quest Partners LLC increased its holdings 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 during the period. 72.60% of the stock is currently owned by institutional investors.

Potbelly Stock Up 0.2 %

Shares of Potbelly stock opened at $8.24 on Tuesday. The firm has a market cap of $245.90 million, a price-to-earnings ratio of 68.67 and a beta of 1.18. The stock’s 50-day moving average is $7.61 and its 200 day moving average is $8.84. 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 Co. has a one year low of $6.28 and a one year high of $14.36.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $119.70 million during 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 quarter last year, the firm posted $0.07 EPS. Equities research analysts anticipate that Potbelly Co. will post 0.2 EPS for the current year.

Insider Buying and Selling at Potbelly

In other news, major shareholder Nierenberg Investment Manageme bought 23,394 shares of Potbelly stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $6.62 per share, for a total transaction of $154,868.28. Following the purchase, the insider now directly owns 1,561,985 shares in the company, valued at approximately $10,340,340.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Craig Hallum cut their target price on Potbelly from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $16.00 target price on shares of Potbelly in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.