Los Angeles Capital Management LLC lowered its position in Potbelly Co. (NASDAQ:PBPB - Free Report) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 132,605 shares of the company's stock after selling 66,102 shares during the period. Los Angeles Capital Management LLC owned 0.44% of Potbelly worth $1,106,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC acquired a new stake in shares of Potbelly in the 1st quarter worth about $5,820,000. Russell Investments Group Ltd. raised its stake in shares of Potbelly by 224.9% in the first quarter. Russell Investments Group Ltd. now owns 300,736 shares of the company's stock worth $3,642,000 after purchasing an additional 208,170 shares during the last quarter. Western Standard LLC bought a new position in shares of Potbelly in the first quarter valued at approximately $2,208,000. Hodges Capital Management Inc. boosted its position in shares of Potbelly by 152.1% during the second quarter. Hodges Capital Management Inc. now owns 293,570 shares of the company's stock valued at $2,357,000 after buying an additional 177,100 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Potbelly by 17.7% during the second quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company's stock worth $8,121,000 after buying an additional 152,200 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Benchmark restated a "buy" rating and set a $16.00 price objective on shares of Potbelly in a research note on Monday, August 12th. Craig Hallum dropped their price target on shares of Potbelly from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.00.
Read Our Latest Report on PBPB
Potbelly Stock Performance
Potbelly stock traded down $0.14 during mid-day trading on Friday, reaching $10.14. 77,083 shares of the company's stock were exchanged, compared to its average volume of 229,428. The business's fifty day simple moving average is $8.27 and its 200 day simple moving average is $8.11. 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 Co. has a one year low of $6.28 and a one year high of $14.36. The firm has a market capitalization of $303.59 million, a PE ratio of 8.22 and a beta of 1.21.
Potbelly Profile
(
Free Report)
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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