Potbelly (NASDAQ:PBPB) Downgraded to Hold Rating by StockNews.com

Potbelly (NASDAQ:PBPB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities research analysts have also commented on the company. William Blair reissued a “market perform” rating on shares of Potbelly in a research note on Thursday, March 20th. Benchmark reiterated a “buy” rating and set a $16.00 target price on shares of Potbelly in a research report on Friday, March 7th.

Potbelly Price Performance

Shares of NASDAQ PBPB opened at $9.56 on Wednesday. The company’s fifty day moving average is $11.40 and its two-hundred day moving average is $9.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The firm has a market capitalization of $285.65 million, a P/E ratio of 7.65 and a beta of 1.50. Potbelly has a one year low of $6.28 and a one year high of $13.48.

Insider Activity

In related news, major shareholder David Nierenberg acquired 7,600 shares of Potbelly stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $9.23 per share, for a total transaction of $70,148.00. Following the completion of the transaction, the insider now directly owns 101,998 shares of the company’s stock, valued at $941,441.54. The trade was a 8.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Potbelly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC purchased a new position in Potbelly in the 4th quarter valued at about $27,000. State of Wyoming lifted its stake in shares of Potbelly by 14.3% during the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after buying an additional 876 shares during the period. FMR LLC boosted its position in Potbelly by 1,101.9% during the third quarter. FMR LLC now owns 8,678 shares of the company’s stock worth $72,000 after acquiring an additional 7,956 shares during the last quarter. Quarry LP grew its stake in Potbelly by 662.9% in the 3rd quarter. Quarry LP now owns 10,925 shares of the company’s stock worth $91,000 after acquiring an additional 9,493 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Potbelly in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

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.