Potbelly (NASDAQ:PBPB) Upgraded by StockNews.com to Buy Rating

Potbelly (NASDAQ:PBPB) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts have also commented on PBPB. Benchmark restated a “buy” rating and set a $16.00 price target on shares of Potbelly in a research report on Friday, March 7th. William Blair reissued a “market perform” rating on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Stock Down 0.6 %

NASDAQ PBPB opened at $9.25 on Tuesday. The firm has a market cap of $276.39 million, a PE ratio of 7.40 and a beta of 1.50. Potbelly has a one year low of $6.28 and a one year high of $13.48. The stock’s 50 day simple moving average is $11.46 and its 200 day simple moving average is $9.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43.

Insiders Place Their Bets

In other news, major shareholder David Nierenberg purchased 7,600 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $9.23 per share, for a total transaction of $70,148.00. Following the completion of the acquisition, the insider now directly owns 101,998 shares in the company, valued at approximately $941,441.54. This trade represents a 8.05 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Potbelly

A number of institutional investors have recently modified their holdings of PBPB. Victory Capital Management Inc. lifted its holdings in shares of Potbelly by 51.9% in the third quarter. Victory Capital Management Inc. now owns 101,039 shares of the company’s stock valued at $843,000 after purchasing an additional 34,539 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Potbelly in the third quarter valued at about $2,332,000. FMR LLC increased its position in shares of Potbelly by 1,101.9% in the third quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after acquiring an additional 7,956 shares during the last quarter. BNP Paribas Financial Markets increased its position in Potbelly by 177.2% during the third quarter. BNP Paribas Financial Markets now owns 34,978 shares of the company’s stock worth $292,000 after buying an additional 22,359 shares during the last quarter. Finally, Portolan Capital Management LLC increased its position in Potbelly by 21.7% during the third quarter. Portolan Capital Management LLC now owns 902,529 shares of the company’s stock worth $7,527,000 after buying an additional 160,763 shares during the last quarter. 72.60% of the stock is currently owned by institutional investors.

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.