Portolan Capital Management LLC Has $9.29 Million Stake in Potbelly Co. (NASDAQ:PBPB)

Portolan Capital Management LLC boosted its holdings in Potbelly Co. (NASDAQ:PBPB - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 986,277 shares of the company's stock after acquiring an additional 83,748 shares during the quarter. Portolan Capital Management LLC owned about 3.29% of Potbelly worth $9,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in Potbelly by 122.6% during the third quarter. JPMorgan Chase & Co. now owns 67,053 shares of the company's stock valued at $559,000 after purchasing an additional 36,930 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Potbelly during the 4th quarter worth $520,000. Barclays PLC grew its holdings in shares of Potbelly by 247.8% in the 3rd quarter. Barclays PLC now owns 39,780 shares of the company's stock worth $332,000 after acquiring an additional 28,342 shares during the last quarter. Hodges Capital Management Inc. raised its position in shares of Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company's stock worth $5,086,000 after purchasing an additional 159,900 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Potbelly by 3.6% during the third quarter. Geode Capital Management LLC now owns 608,336 shares of the company's stock valued at $5,074,000 after purchasing an additional 21,188 shares during the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark restated a "buy" rating and set a $16.00 price objective on shares of Potbelly in a report on Friday, March 7th. StockNews.com lowered shares of Potbelly from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, William Blair reaffirmed a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th.

Potbelly Stock Up 1.5 %

Shares of NASDAQ PBPB traded up $0.12 during mid-day trading on Friday, reaching $8.01. The company had a trading volume of 213,522 shares, compared to its average volume of 218,954. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The company has a market capitalization of $241.68 million, a price-to-earnings ratio of 6.41 and a beta of 1.38. The stock has a fifty day moving average of $10.15 and a two-hundred day moving average of $9.89. Potbelly Co. has a 12-month low of $6.28 and a 12-month high of $13.48.

Insiders Place Their Bets

In other news, major shareholder David Nierenberg bought 22,169 shares of the company's stock in a transaction on Friday, March 28th. The shares were bought at an average cost of $9.36 per share, with a total value of $207,501.84. Following the transaction, the insider now directly owns 124,167 shares in the company, valued at approximately $1,162,203.12. This trade represents a 21.73 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.20% 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.