302,088 Shares in Potbelly Corporation (NASDAQ:PBPB) Bought by CenterBook Partners LP

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 purchased a new position in shares of Potbelly Corporation (NASDAQ:PBPB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 302,088 shares of the company's stock, valued at approximately $2,873,000. CenterBook Partners LP owned about 1.00% of Potbelly as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of Wyoming increased its stake in shares of Potbelly by 14.3% during the 4th quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after purchasing an additional 876 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Potbelly by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 66,000 shares of the company's stock valued at $628,000 after acquiring an additional 1,662 shares in the last quarter. Rhumbline Advisers lifted its holdings in Potbelly by 5.7% in the 1st quarter. Rhumbline Advisers now owns 38,872 shares of the company's stock worth $370,000 after buying an additional 2,108 shares in the last quarter. Bank of America Corp DE lifted its holdings in Potbelly by 10.5% in the 4th quarter. Bank of America Corp DE now owns 25,491 shares of the company's stock worth $240,000 after buying an additional 2,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Potbelly by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 79,145 shares of the company's stock valued at $753,000 after purchasing an additional 2,620 shares in the last quarter. Hedge funds and other institutional investors own 72.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PBPB. Wall Street Zen cut shares of Potbelly from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Benchmark upped their price target on shares of Potbelly from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday.

Potbelly Price Performance

Potbelly stock traded down $0.21 during trading hours on Monday, hitting $12.34. The company had a trading volume of 92,550 shares, compared to its average volume of 258,645. The firm has a market capitalization of $373.35 million, a P/E ratio of 35.25 and a beta of 1.55. The firm's fifty day moving average is $11.92 and its 200-day moving average is $10.84. Potbelly Corporation has a fifty-two week low of $7.09 and a fifty-two week high of $13.67.

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

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.