Potbelly Co. (NASDAQ:PBPB) Short Interest Update

Potbelly Co. (NASDAQ:PBPB) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,280,000 shares, a growth of 54.3% from the February 28th total of 829,500 shares. Based on an average daily volume of 252,700 shares, the short-interest ratio is currently 5.1 days. Currently, 5.1% of the company’s stock are sold short.

Potbelly Stock Down 2.3 %

Shares of Potbelly stock traded down $0.22 during trading hours on Friday, reaching $9.34. 149,430 shares of the company’s stock were exchanged, compared to its average volume of 211,724. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $11.38 and a two-hundred day moving average of $9.85. The stock has a market cap of $279.08 million, a P/E ratio of 7.47 and a beta of 1.50. Potbelly has a fifty-two week low of $6.28 and a fifty-two week high of $13.48.

Insider Activity

In related news, major shareholder David Nierenberg acquired 7,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $9.23 per share, for a total transaction of $70,148.00. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by company insiders.

Institutional Trading of Potbelly

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in shares of Potbelly during the 3rd quarter worth about $2,332,000. FMR LLC increased its position in Potbelly by 1,101.9% during the third 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 last quarter. BNP Paribas Financial Markets raised its stake in Potbelly by 177.2% in the third quarter. BNP Paribas Financial Markets now owns 34,978 shares of the company’s stock valued at $292,000 after buying an additional 22,359 shares during the period. Portolan Capital Management LLC lifted 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. Finally, Quarry LP boosted its stake in shares of Potbelly by 662.9% during the 3rd quarter. Quarry LP now owns 10,925 shares of the company’s stock worth $91,000 after acquiring an additional 9,493 shares during the period. 72.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $16.00 target price on shares of Potbelly in a report on Friday, March 7th. William Blair reissued a “market perform” rating on shares of Potbelly in a research report on Thursday, March 20th. Finally, StockNews.com cut Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday.

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.