Potbelly (NASDAQ:PBPB) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Potbelly (NASDAQ:PBPB) from a buy rating to a hold rating in a research report released on Wednesday morning.

Other research analysts also recently issued reports about the stock. Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Potbelly in a research report on Friday, March 7th. William Blair restated a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th.

Potbelly Trading Down 2.3 %

NASDAQ:PBPB opened at $9.34 on Wednesday. The stock has a market cap of $279.08 million, a PE 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. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. The stock’s 50-day moving average is $11.38 and its two-hundred day moving average is $9.83.

Insider Buying and Selling

In other Potbelly news, major shareholder David Nierenberg acquired 7,600 shares of Potbelly stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $9.23 per share, with a total value of $70,148.00. Following the purchase, the insider now owns 101,998 shares in the company, valued at approximately $941,441.54. This trade represents a 8.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Potbelly

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in shares of Potbelly by 51.9% in the 3rd quarter. Victory Capital Management Inc. now owns 101,039 shares of the company’s stock valued at $843,000 after acquiring an additional 34,539 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Potbelly in the third quarter valued at approximately $2,332,000. FMR LLC lifted its stake in shares of Potbelly by 1,101.9% in 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 boosted its holdings in shares of Potbelly by 177.2% during the 3rd 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 during the period. Finally, Portolan Capital Management LLC grew its stake in Potbelly by 21.7% in the 3rd 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. 72.60% of the stock is currently owned by 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.