Hodges Capital Management Inc. Sells 10,274 Shares of Potbelly Corporation $PBPB

Hodges Capital Management Inc. lessened its holdings in Potbelly Corporation (NASDAQ:PBPB) by 4.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 227,111 shares of the company’s stock after selling 10,274 shares during the period. Hodges Capital Management Inc.’s holdings in Potbelly were worth $2,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System bought a new position in shares of Potbelly in the second quarter worth about $31,000. Tectonic Advisors LLC lifted its holdings in Potbelly by 1.2% in the 2nd quarter. Tectonic Advisors LLC now owns 89,004 shares of the company’s stock worth $1,090,000 after purchasing an additional 1,039 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Potbelly in the 2nd quarter worth approximately $139,000. Rhumbline Advisers grew its holdings in Potbelly by 5.7% during the 1st quarter. Rhumbline Advisers now owns 38,872 shares of the company’s stock valued at $370,000 after buying an additional 2,108 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Potbelly by 114.3% during the first quarter. Jane Street Group LLC now owns 48,873 shares of the company’s stock valued at $465,000 after buying an additional 26,066 shares during the last quarter. 72.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Lake Street Capital lowered shares of Potbelly from a “buy” rating to a “hold” rating and upped their target price for the stock from $15.00 to $17.12 in a research report on Thursday, September 11th. Benchmark cut shares of Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Friday, September 12th. Craig Hallum downgraded shares of Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 price objective for the company. in a report on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potbelly in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Potbelly to a “hold” rating in a research report on Saturday, October 25th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Potbelly presently has an average rating of “Hold” and an average price target of $17.41.

Potbelly Stock Up 0.1%

Potbelly stock opened at $17.12 on Monday. The company’s 50-day moving average price is $16.46 and its 200-day moving average price is $13.14. The company has a market cap of $518.05 million, a PE ratio of 48.92 and a beta of 1.52. Potbelly Corporation has a twelve month low of $7.27 and a twelve month high of $17.13.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Monday, January 9th. The company reported ($0.05) EPS for the quarter. The business had revenue of $101.69 million during the quarter. Potbelly had a net margin of 2.30% and a return on equity of 16.31%. Potbelly has set its Q4 2022 guidance at EPS. As a group, sell-side analysts expect that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

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.