CenterBook Partners LP Purchases Shares of 302,088 Potbelly Corporation (NASDAQ:PBPB)

Key Points

• CenterBook Partners LP has acquired 302,088 shares of Potbelly Corporation, representing about **1.00%** of the company, valued at approximately **$2.87 million**.
• Recent analyst actions include **Benchmark raising Potbelly's price target** from **$16.00 to $17.00**, while **Wall Street Zen downgraded** the stock from a "buy" to a "hold" rating.
• Potbelly's stock showed a **3.8% increase**, closing at **$11.51**, with a reported **$0.09 EPS**, surpassing analysts' expectations of **$0.08**.

CenterBook Partners LP acquired a new stake in Potbelly Corporation (NASDAQ:PBPB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 302,088 shares of the company's stock, valued at approximately $2,873,000. CenterBook Partners LP owned about 1.00% of Potbelly at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBPB. Essex Investment Management Co. LLC acquired a new stake in shares of Potbelly in the 1st quarter valued at about $2,110,000. Marshall Wace LLP raised its stake in shares of Potbelly by 758.4% in the 4th quarter. Marshall Wace LLP now owns 195,775 shares of the company's stock valued at $1,844,000 after purchasing an additional 172,969 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Potbelly by 139.3% in the 4th quarter. American Century Companies Inc. now owns 147,147 shares of the company's stock valued at $1,386,000 after purchasing an additional 85,651 shares in the last quarter. Portolan Capital Management LLC raised its stake in shares of Potbelly by 9.3% in the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company's stock valued at $9,291,000 after purchasing an additional 83,748 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Potbelly in the 1st quarter valued at about $626,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark upped their target price on shares of Potbelly from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen lowered shares of Potbelly from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

Potbelly Trading Down 3.6%

PBPB traded down $0.47 on Friday, hitting $12.55. 329,319 shares of the company's stock were exchanged, compared to its average volume of 286,577. The firm has a market cap of $379.76 million, a PE ratio of 35.86 and a beta of 1.55. Potbelly Corporation has a twelve month low of $6.76 and a twelve month high of $13.67. The stock has a fifty day moving average of $11.92 and a two-hundred day moving average of $10.85.

Potbelly (NASDAQ:PBPB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $123.71 million for the quarter, compared to analyst estimates of $122.65 million. Potbelly had a net margin of 2.30% and a return on equity of 16.31%. On average, analysts predict that Potbelly Corporation will post 0.24 EPS for the current year.

Potbelly 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.