Potbelly’s (PBPB) Buy Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Potbelly (NASDAQ:PBPB) in a research note released on Friday,Benzinga reports. The firm currently has a $16.00 price target on the stock.

Potbelly Trading Down 18.2 %

Shares of Potbelly 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 stock has a market capitalization of $289.19 million, a P/E 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. The stock’s 50-day simple moving average is $11.43 and its 200 day simple moving average is $9.66.

Insider Buying and Selling

In related news, major shareholder David Nierenberg bought 7,600 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $9.23 per share, for a total transaction of $70,148.00. Following the purchase, the insider now directly owns 101,998 shares in the company, valued at $941,441.54. This trade represents a 8.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Potbelly

Institutional investors and hedge funds have recently modified their holdings of the company. Monimus Capital Management LP bought a new stake in Potbelly during the 4th quarter worth approximately $4,901,000. Cerity Partners LLC bought a new position in shares of Potbelly in the third quarter worth $2,332,000. Marshall Wace LLP raised its position in shares of Potbelly by 758.4% in the fourth quarter. Marshall Wace LLP now owns 195,775 shares of the company’s stock worth $1,844,000 after buying an additional 172,969 shares in the last quarter. Vantage Consulting Group Inc bought a new stake in Potbelly during the fourth quarter valued at $1,553,000. Finally, Portolan Capital Management LLC grew its position in Potbelly by 21.7% during the third quarter. Portolan Capital Management LLC now owns 902,529 shares of the company’s stock worth $7,527,000 after buying an additional 160,763 shares in the last quarter. 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.