Short Interest in Potbelly Co. (NASDAQ:PBPB) Drops By 26.6%

Potbelly Co. (NASDAQ:PBPB - Get Free Report) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 815,100 shares, a decrease of 26.6% from the September 15th total of 1,110,000 shares. Based on an average daily trading volume, of 200,300 shares, the short-interest ratio is presently 4.1 days. Currently, 3.3% of the shares of the stock are sold short.

Potbelly Stock Performance

NASDAQ PBPB remained flat at $8.18 on Friday. 65,481 shares of the company's stock were exchanged, compared to its average volume of 237,432. The company has a current ratio of 0.45, a quick ratio of 0.39 and a debt-to-equity ratio of 0.08. Potbelly has a 52 week low of $6.28 and a 52 week high of $14.36. The company has a market capitalization of $244.11 million, a PE ratio of 68.17 and a beta of 1.19. The business has a fifty day moving average price of $7.84 and a 200 day moving average price of $8.49.

Potbelly (NASDAQ:PBPB - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Potbelly had a net margin of 7.58% and a return on equity of 21.42%. The company had revenue of $119.70 million during the quarter, compared to analyst estimates of $119.00 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Equities research analysts anticipate that Potbelly will post 0.2 EPS for the current fiscal year.

Insider Activity at Potbelly

In related news, major shareholder Nierenberg Investment Manageme bought 45,772 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $6.48 per share, for a total transaction of $296,602.56. Following the transaction, the insider now directly owns 1,546,211 shares of the company's stock, valued at approximately $10,019,447.28. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Potbelly

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Potbelly in the second quarter worth approximately $86,000. AQR Capital Management LLC lifted its position in shares of Potbelly by 36.5% in the second quarter. AQR Capital Management LLC now owns 111,214 shares of the company's stock worth $893,000 after purchasing an additional 29,747 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Potbelly in the second quarter worth approximately $1,070,000. 272 Capital LP purchased a new stake in shares of Potbelly in the second quarter worth approximately $291,000. Finally, Marshall Wace LLP purchased a new stake in shares of Potbelly in the second quarter worth approximately $438,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Craig Hallum decreased their target price on shares of Potbelly from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Benchmark reissued a "buy" rating and issued a $16.00 price target on shares of Potbelly in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.33.

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.