Benchmark Reiterates “Buy” Rating for Potbelly (NASDAQ:PBPB)

Benchmark restated their buy rating on shares of Potbelly (NASDAQ:PBPB) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $16.00 target price on the stock.

Potbelly Stock Performance

NASDAQ PBPB opened at $9.66 on Friday. Potbelly has a 52-week low of $6.28 and a 52-week high of $13.48. The company has a fifty day moving average of $11.43 and a 200-day moving average of $9.66. The company has a market capitalization of $289.19 million, a P/E ratio of 7.73 and a beta of 1.50. 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 Transactions at Potbelly

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

Hedge Funds Weigh In On Potbelly

Large investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new position in shares of Potbelly during the fourth quarter valued at about $27,000. State of Wyoming boosted its holdings in Potbelly by 14.3% during the 4th quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after acquiring an additional 876 shares during the period. FMR LLC grew its position in Potbelly by 1,101.9% during the 3rd 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 increased 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 purchasing an additional 9,493 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in Potbelly in the fourth quarter valued at approximately $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.