Potbelly Co. (NASDAQ:PBPB) Short Interest Update

Potbelly Co. (NASDAQ:PBPB - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,280,000 shares, a growth of 54.3% from the February 28th total of 829,500 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily volume of 252,700 shares, the days-to-cover ratio is currently 5.1 days.

Potbelly Trading Down 6.0 %

Potbelly stock traded down $0.59 during mid-day trading on Thursday, hitting $9.28. The company's stock had a trading volume of 95,763 shares, compared to its average volume of 211,519. The business has a 50 day moving average price of $11.32 and a 200-day moving average price of $9.89. Potbelly has a 12 month low of $6.28 and a 12 month high of $13.48. The stock has a market cap of $277.29 million, a price-to-earnings ratio of 7.42 and a beta of 1.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43.

Analysts Set New Price Targets

PBPB has been the topic of a number of analyst reports. William Blair reiterated a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th. Benchmark reissued a "buy" rating and issued a $16.00 price target on shares of Potbelly in a report on Friday, March 7th. Finally, StockNews.com downgraded Potbelly from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th.

Insider Buying and Selling at Potbelly

In other news, major shareholder David Nierenberg bought 22,169 shares of the stock in a transaction on Friday, March 28th. The shares were purchased at an average cost of $9.36 per share, for a total transaction of $207,501.84. Following the completion of the purchase, the insider now directly owns 124,167 shares in the company, valued at $1,162,203.12. This represents a 21.73 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.10% of the company's stock.

Institutional Trading of Potbelly

A number of institutional investors have recently made changes to their positions in PBPB. State of Wyoming grew its holdings in Potbelly by 14.3% in the 4th quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after acquiring an additional 876 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Potbelly by 4.8% during the third quarter. XTX Topco Ltd now owns 31,984 shares of the company's stock valued at $267,000 after buying an additional 1,456 shares during the period. Bank of America Corp DE raised its holdings in shares of Potbelly by 10.5% during the fourth quarter. Bank of America Corp DE now owns 25,491 shares of the company's stock valued at $240,000 after acquiring an additional 2,418 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Potbelly during the 4th quarter valued at about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Potbelly by 28.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,400 shares of the company's stock valued at $124,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 72.60% of the company's stock.

Potbelly Company Profile

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.