Benchmark reaffirmed their buy rating on shares of Potbelly (NASDAQ:PBPB - Free Report) in a research report sent to investors on Friday,Benzinga reports. They currently have a $16.00 price target on the stock.
Potbelly Price Performance
PBPB stock traded up $0.13 on Friday, reaching $9.70. 482,933 shares of the company's stock were exchanged, compared to its average volume of 275,792. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. Potbelly has a twelve month low of $6.28 and a twelve month high of $13.48. The stock has a fifty day moving average of $11.45 and a 200-day moving average of $9.72. The firm has a market cap of $290.39 million, a PE ratio of 7.76 and a beta of 1.50.
Insider Buying and Selling at Potbelly
In other Potbelly news, major shareholder David Nierenberg acquired 4,740 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $9.36 per share, with a total value of $44,366.40. Following the purchase, the insider now directly owns 3,150 shares in the company, valued at approximately $29,484. This trade represents a -298.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 9.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in Potbelly in the 4th quarter worth approximately $27,000. State of Wyoming lifted its position in Potbelly by 14.3% during the fourth quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after buying an additional 876 shares during the period. FMR LLC boosted its stake in Potbelly by 1,101.9% in the 3rd quarter. FMR LLC now owns 8,678 shares of the company's stock worth $72,000 after buying an additional 7,956 shares during the last quarter. Quarry LP grew its holdings in Potbelly by 662.9% in the 3rd quarter. Quarry LP now owns 10,925 shares of the company's stock valued at $91,000 after buying an additional 9,493 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Potbelly in the 4th quarter valued at about $98,000. 72.60% of the stock is currently owned by hedge funds and other institutional investors.
Potbelly Company Profile
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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.
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