Potbelly’s (PBPB) “Market Perform” Rating Reaffirmed at William Blair

William Blair reissued their market perform rating on shares of Potbelly (NASDAQ:PBPB) in a report published on Friday,RTT News reports.

Separately, Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a research report on Friday.

Potbelly Stock Down 18.2 %

NASDAQ:PBPB opened at $9.66 on Friday. The stock’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $9.66. The company has a market cap of $289.19 million, a price-to-earnings ratio of 7.73 and a beta of 1.50. Potbelly has a 52-week low of $6.28 and a 52-week high of $13.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49.

Insider Buying and Selling at Potbelly

In related news, major shareholder David Nierenberg bought 7,600 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price of $9.23 per share, with a total value of $70,148.00. Following the completion of the purchase, the insider now owns 101,998 shares of the company’s stock, valued at $941,441.54. This represents a 8.05 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Potbelly

Institutional investors have recently modified their holdings of the stock. State of Wyoming boosted its stake in Potbelly by 14.3% during the 4th quarter. State of Wyoming now owns 7,012 shares of the company’s stock worth $66,000 after acquiring an additional 876 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Potbelly by 35.8% during the fourth quarter. Deutsche Bank AG now owns 24,997 shares of the company’s stock worth $235,000 after purchasing an additional 6,594 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Potbelly in the 4th quarter valued at $160,000. Cubist Systematic Strategies LLC bought a new stake in shares of Potbelly in the 4th quarter valued at $471,000. Finally, Bank of America Corp DE raised its stake in Potbelly by 10.5% during the 4th quarter. Bank of America Corp DE now owns 25,491 shares of the company’s stock worth $240,000 after buying an additional 2,418 shares during the period. 72.60% of the stock is currently 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.