Western Standard LLC reduced its position in Potbelly Co. (NASDAQ:PBPB - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,769 shares of the company's stock after selling 400,000 shares during the quarter. Potbelly makes up approximately 3.1% of Western Standard LLC's portfolio, making the stock its 13th biggest position. Western Standard LLC owned 1.34% of Potbelly worth $3,342,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in Potbelly in the 3rd quarter valued at about $2,332,000. First Eagle Investment Management LLC boosted its holdings in shares of 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 buying an additional 152,200 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Potbelly during the 2nd quarter worth $1,070,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Potbelly during the third quarter worth about $87,000. Finally, Hodges Capital Management Inc. increased 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 worth $2,357,000 after purchasing an additional 177,100 shares in the last quarter. 72.60% of the stock is currently owned by hedge funds and other institutional investors.
Potbelly Stock Performance
NASDAQ:PBPB traded down $0.14 during midday trading on Friday, reaching $10.04. The stock had a trading volume of 46,752 shares, compared to its average volume of 221,937. The stock has a market cap of $300.60 million, a P/E ratio of 8.14 and a beta of 1.28. 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 12-month low of $6.28 and a 12-month high of $14.36. The firm has a fifty day simple moving average of $8.92 and a two-hundred day simple moving average of $8.18.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Benchmark reaffirmed a "buy" rating and issued a $16.00 target price on shares of Potbelly in a report on Monday, August 12th. Craig Hallum reduced their target price on shares of Potbelly from $20.00 to $16.00 and set a "buy" rating for the company in a report on Friday, August 9th.
Check Out Our Latest Research Report on Potbelly
About Potbelly
(
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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