Potbelly (NASDAQ:PBPB) Upgraded at StockNews.com

StockNews.com upgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a buy rating in a research note released on Tuesday.

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

Potbelly Trading Down 0.9 %

Shares of PBPB stock opened at $9.17 on Tuesday. Potbelly has a 12-month low of $6.28 and a 12-month high of $13.48. The company has a market capitalization of $274.00 million, a P/E ratio of 7.34 and a beta of 1.50. The firm has a 50-day moving average price of $11.46 and a 200 day moving average price of $9.76. 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

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

Institutional Investors Weigh In On Potbelly

A number of institutional investors and hedge funds have recently modified their holdings of the business. Monimus Capital Management LP acquired a new position in Potbelly during the fourth quarter valued at approximately $4,901,000. Cerity Partners LLC acquired a new position in Potbelly during the third quarter valued at approximately $2,332,000. Marshall Wace LLP grew its holdings in Potbelly by 758.4% during the fourth quarter. Marshall Wace LLP now owns 195,775 shares of the company’s stock valued at $1,844,000 after purchasing an additional 172,969 shares during the period. Vantage Consulting Group Inc acquired a new position in Potbelly during the fourth quarter valued at approximately $1,553,000. Finally, Portolan Capital Management LLC grew its holdings in Potbelly by 21.7% during the third quarter. Portolan Capital Management LLC now owns 902,529 shares of the company’s stock valued at $7,527,000 after purchasing an additional 160,763 shares during the period. 72.60% of the stock is 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.