Los Angeles Capital Management LLC Trims Stock Position in Potbelly Co. (NASDAQ:PBPB)

Los Angeles Capital Management LLC decreased its position in Potbelly Co. (NASDAQ:PBPB) by 33.3% in the third quarter, Holdings Channel reports. The firm owned 132,605 shares of the company’s stock after selling 66,102 shares during the period. Los Angeles Capital Management LLC’s holdings in Potbelly were worth $1,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Potbelly in the 2nd quarter worth $25,000. Allspring Global Investments Holdings LLC lifted its stake in Potbelly by 9,350.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the company’s stock worth $63,000 after acquiring an additional 7,761 shares during the period. The Manufacturers Life Insurance Company bought a new position in Potbelly during the 2nd quarter worth about $86,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Potbelly during the 3rd quarter valued at about $87,000. Finally, Quest Partners LLC raised its holdings in shares of Potbelly by 47.9% in the 2nd 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 in the last quarter. Institutional investors own 72.60% of the company’s stock.

Potbelly Stock Down 4.3 %

Shares of Potbelly stock opened at $10.28 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. The company has a market cap of $307.78 million, a P/E ratio of 8.22 and a beta of 1.21. The firm’s 50 day moving average price is $8.27 and its 200-day moving average price is $8.11. Potbelly Co. has a 52-week low of $6.28 and a 52-week high of $14.36.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Craig Hallum dropped their price objective on shares of Potbelly from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Potbelly in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Potbelly has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.