Potbelly (NASDAQ:PBPB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a buy rating in a research note published on Tuesday.

A number of other brokerages also recently issued reports on PBPB. William Blair reiterated a “market perform” rating on shares of Potbelly in a research report on Friday, March 7th. Benchmark reaffirmed a “buy” rating and set a $16.00 target price on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Trading Down 2.8 %

PBPB stock opened at $9.31 on Tuesday. Potbelly has a 52-week low of $6.28 and a 52-week high of $13.48. 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 firm has a market cap of $278.18 million, a P/E ratio of 7.45 and a beta of 1.50. The company’s 50-day simple moving average is $11.46 and its 200-day simple moving average is $9.77.

Insider Transactions at Potbelly

In other news, major shareholder David Nierenberg acquired 7,600 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $9.23 per share, for a total transaction of $70,148.00. Following the acquisition, the insider now owns 101,998 shares in the company, valued at approximately $941,441.54. This represents a 8.05 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Potbelly

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Potbelly by 51.9% during the third quarter. Victory Capital Management Inc. now owns 101,039 shares of the company’s stock worth $843,000 after purchasing an additional 34,539 shares in the last quarter. Cerity Partners LLC acquired a new stake in Potbelly during the 3rd quarter worth $2,332,000. FMR LLC boosted its stake in 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 purchasing an additional 7,956 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Potbelly by 177.2% during the third quarter. BNP Paribas Financial Markets now owns 34,978 shares of the company’s stock worth $292,000 after buying an additional 22,359 shares in the last quarter. Finally, Portolan Capital Management LLC raised its position in shares of Potbelly by 21.7% in the third quarter. Portolan Capital Management LLC now owns 902,529 shares of the company’s stock valued at $7,527,000 after buying an additional 160,763 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

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.