Potbelly (NASDAQ:PBPB) Upgraded to “Buy” at StockNews.com

Potbelly (NASDAQ:PBPB) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

PBPB has been the subject of several other research reports. William Blair restated a “market perform” rating on shares of Potbelly in a report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Stock Down 2.8 %

PBPB traded down $0.27 during trading hours on Tuesday, hitting $9.31. 315,660 shares of the company’s stock were exchanged, compared to its average volume of 210,341. Potbelly has a 1-year low of $6.28 and a 1-year high of $13.48. The stock’s 50-day moving average is $11.46 and its two-hundred day moving average is $9.77. The stock has a market cap of $278.18 million, a price-to-earnings ratio of 7.45 and a beta of 1.50. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling at Potbelly

In other news, major shareholder David Nierenberg purchased 7,600 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $9.23 per share, for a total transaction of $70,148.00. Following the completion of the purchase, the insider now directly owns 101,998 shares in the company, valued at $941,441.54. The trade was a 8.05 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Potbelly

Several large investors have recently modified their holdings of PBPB. Aquatic Capital Management LLC bought a new position in shares of Potbelly in the fourth quarter valued at about $27,000. State of Wyoming raised its position in shares of Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after purchasing an additional 876 shares during the period. FMR LLC raised its position in shares of Potbelly by 1,101.9% in the third quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after purchasing an additional 7,956 shares during the period. Quarry LP raised its position in shares of Potbelly by 662.9% in the third quarter. Quarry LP now owns 10,925 shares of the company’s stock valued at $91,000 after purchasing an additional 9,493 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Potbelly in the fourth quarter valued at about $98,000. 72.60% of the stock is owned by institutional investors.

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.