Potbelly (NASDAQ:PBPB) Earns Market Perform Rating from William Blair

Potbelly (NASDAQ:PBPB)‘s stock had its “market perform” rating reaffirmed by analysts at William Blair in a report released on Friday,RTT News reports.

Separately, Benchmark reaffirmed a “buy” rating and issued a $16.00 price target on shares of Potbelly in a report on Friday.

Potbelly Stock Down 18.2 %

PBPB stock opened at $9.66 on Friday. The company has a market capitalization of $289.19 million, a P/E ratio of 7.73 and a beta of 1.50. Potbelly has a 12 month low of $6.28 and a 12 month high of $13.48. The firm’s fifty day simple moving average is $11.44 and its 200-day simple moving average is $9.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43.

Insiders Place Their Bets

In other news, major shareholder David Nierenberg acquired 7,600 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $9.23 per share, with a total value of $70,148.00. Following the completion of the acquisition, the insider now owns 101,998 shares of the company’s stock, valued at approximately $941,441.54. This represents a 8.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Potbelly

A number of institutional investors have recently modified their holdings of the business. Aquatic Capital Management LLC purchased a new position in Potbelly during the fourth quarter worth approximately $27,000. State of Wyoming increased its position in shares of Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after buying an additional 876 shares in the last quarter. FMR LLC raised its stake in shares of Potbelly by 1,101.9% during the 3rd quarter. FMR LLC now owns 8,678 shares of the company’s stock worth $72,000 after buying an additional 7,956 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Potbelly during the 4th quarter valued at approximately $98,000. Finally, Quarry LP grew its stake in Potbelly by 662.9% in the 3rd quarter. Quarry LP now owns 10,925 shares of the company’s stock valued at $91,000 after acquiring an additional 9,493 shares during the period. 72.60% of the stock is currently owned by institutional investors and hedge funds.

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.