Squarepoint Ops LLC Takes $1.07 Million Position in Potbelly Co. (NASDAQ:PBPB)

Squarepoint Ops LLC purchased a new stake in Potbelly Co. (NASDAQ:PBPB - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 133,298 shares of the company's stock, valued at approximately $1,070,000. Squarepoint Ops LLC owned 0.45% of Potbelly as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PBPB. Hodges Capital Management Inc. acquired a new stake in Potbelly in the first quarter worth $1,411,000. Silvercrest Asset Management Group LLC bought a new stake in Potbelly in the 1st quarter valued at about $5,820,000. First Eagle Investment Management LLC lifted its position in Potbelly by 17.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company's stock valued at $8,121,000 after purchasing an additional 152,200 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Potbelly by 224.9% during the 1st quarter. Russell Investments Group Ltd. now owns 300,736 shares of the company's stock valued at $3,642,000 after purchasing an additional 208,170 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its position in Potbelly by 73.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 45,269 shares of the company's stock worth $472,000 after purchasing an additional 19,118 shares during the last quarter. Institutional investors own 72.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Potbelly news, major shareholder Nierenberg Investment Manageme purchased 23,394 shares of the business's stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $6.62 per share, with a total value of $154,868.28. Following the acquisition, the insider now owns 1,561,985 shares of the company's stock, valued at $10,340,340.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.10% of the stock is owned by corporate insiders.

Potbelly Price Performance

Shares of NASDAQ:PBPB traded down $0.17 during trading on Monday, reaching $8.02. The company had a trading volume of 108,485 shares, compared to its average volume of 239,744. Potbelly Co. has a twelve month low of $6.28 and a twelve month high of $14.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.39 and a current ratio of 0.45. The firm has a market capitalization of $240.12 million, a PE ratio of 66.83 and a beta of 1.19. The firm's fifty day moving average is $7.76 and its 200 day moving average is $8.58.

Potbelly (NASDAQ:PBPB - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Potbelly had a return on equity of 21.42% and a net margin of 7.58%. The firm had revenue of $119.70 million during the quarter, compared to the consensus estimate of $119.00 million. During the same period in the prior year, the firm posted $0.07 earnings per share. On average, equities analysts forecast that Potbelly Co. will post 0.2 EPS for the current year.

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.