Potbelly’s (PBPB) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Potbelly (NASDAQ:PBPB) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

Potbelly Stock Down 18.2 %

Shares of PBPB stock opened at $9.66 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The firm’s 50-day moving average is $11.44 and its 200-day moving average is $9.69. The stock has a market cap of $289.19 million, a price-to-earnings ratio of 7.73 and a beta of 1.50. Potbelly has a 52-week low of $6.28 and a 52-week high of $13.48.

Insider Activity

In related news, major shareholder David Nierenberg purchased 4,740 shares of the stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $9.36 per share, with a total value of $44,366.40. Following the acquisition, the insider now directly owns 3,150 shares in the company, valued at $29,484. The trade was a -298.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 9.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State of Wyoming raised its holdings in Potbelly by 14.3% in the 4th quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after acquiring an additional 876 shares during the period. XTX Topco Ltd raised its holdings in Potbelly by 4.8% in the 3rd quarter. XTX Topco Ltd now owns 31,984 shares of the company’s stock valued at $267,000 after acquiring an additional 1,456 shares during the period. Bank of America Corp DE raised its holdings in Potbelly by 10.5% in the 4th quarter. Bank of America Corp DE now owns 25,491 shares of the company’s stock valued at $240,000 after acquiring an additional 2,418 shares during the period. Aquatic Capital Management LLC bought a new position in Potbelly in the 4th quarter valued at about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Potbelly by 28.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,400 shares of the company’s stock valued at $124,000 after acquiring an additional 3,000 shares during the period. 72.60% of the stock is 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.