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

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

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

Potbelly Stock Performance

Shares of NASDAQ:PBPB opened at $9.66 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. Potbelly has a 1 year low of $6.28 and a 1 year high of $13.48. The firm has a market capitalization of $289.19 million, a PE ratio of 7.73 and a beta of 1.50. The business’s 50 day moving average price is $11.44 and its 200-day moving average price is $9.68.

Insider Transactions at Potbelly

In related news, major shareholder David Nierenberg purchased 7,600 shares of Potbelly stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $9.23 per share, for a total transaction of $70,148.00. Following the acquisition, the insider now directly owns 101,998 shares in the company, valued at approximately $941,441.54. The trade was a 8.05 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Potbelly

A number of institutional investors have recently bought and sold shares of PBPB. JPMorgan Chase & Co. grew its stake in shares of Potbelly by 122.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,053 shares of the company’s stock valued at $559,000 after buying an additional 36,930 shares during the period. Cerity Partners LLC acquired a new position in Potbelly in the third quarter valued at approximately $2,332,000. Sanctuary Advisors LLC purchased a new position in Potbelly in the fourth quarter worth approximately $520,000. Barclays PLC increased its stake in Potbelly by 247.8% during the third quarter. Barclays PLC now owns 39,780 shares of the company’s stock worth $332,000 after acquiring an additional 28,342 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its position in Potbelly by 42.1% in 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 period. 72.60% of the stock is owned by hedge funds and other institutional investors.

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.