Potbelly (NASDAQ:PBPB) Rating Increased to Buy at StockNews.com

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

PBPB has been the subject of several other reports. Benchmark restated a “buy” rating and set a $16.00 price objective on shares of Potbelly in a research report on Friday, March 7th. William Blair reiterated a “market perform” rating on shares of Potbelly in a research note on Thursday, March 20th.

Potbelly Stock Down 1.9 %

NASDAQ PBPB opened at $9.92 on Thursday. The business has a fifty day moving average price of $9.00 and a two-hundred day moving average price of $9.92. The stock has a market capitalization of $299.31 million, a PE ratio of 7.94 and a beta of 1.47. 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.

Insider Activity at Potbelly

In other news, major shareholder David Nierenberg acquired 22,169 shares of Potbelly stock in a transaction dated Friday, March 28th. The shares were bought at an average cost of $9.36 per share, with a total value of $207,501.84. Following the purchase, the insider now owns 124,167 shares in the company, valued at $1,162,203.12. This trade represents a 21.73 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Potbelly

Several institutional investors have recently added to or reduced their stakes in PBPB. JPMorgan Chase & Co. grew its stake in Potbelly by 122.6% in the third quarter. JPMorgan Chase & Co. now owns 67,053 shares of the company’s stock valued at $559,000 after acquiring an additional 36,930 shares during the period. Portolan Capital Management LLC grew its position in Potbelly by 9.3% in the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company’s stock valued at $9,291,000 after purchasing an additional 83,748 shares during the period. Sanctuary Advisors LLC bought a new stake in Potbelly during the 4th quarter valued at $520,000. Barclays PLC lifted its stake in shares of Potbelly by 247.8% in the third quarter. Barclays PLC now owns 39,780 shares of the company’s stock valued at $332,000 after buying an additional 28,342 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in shares of Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock valued at $5,086,000 after buying an additional 159,900 shares during the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

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.