BNP Paribas Financial Markets Reduces Position in Potbelly Co. (NASDAQ:PBPB)

BNP Paribas Financial Markets decreased its holdings in shares of Potbelly Co. (NASDAQ:PBPB - Free Report) by 81.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,473 shares of the company's stock after selling 28,505 shares during the period. BNP Paribas Financial Markets' holdings in Potbelly were worth $61,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its stake in Potbelly by 2.8% during the 4th quarter. Northern Trust Corp now owns 223,751 shares of the company's stock valued at $2,108,000 after purchasing an additional 6,013 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Potbelly during the fourth quarter valued at approximately $27,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Potbelly during the fourth quarter valued at approximately $98,000. 1492 Capital Management LLC purchased a new stake in shares of Potbelly during the fourth quarter valued at approximately $249,000. Finally, Marshall Wace LLP grew its holdings in shares of Potbelly by 758.4% during the fourth quarter. Marshall Wace LLP now owns 195,775 shares of the company's stock valued at $1,844,000 after buying an additional 172,969 shares during the last quarter. Institutional investors own 72.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PBPB shares. Wall Street Zen cut shares of Potbelly from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Benchmark reiterated a "buy" rating and set a $16.00 price target on shares of Potbelly in a report on Friday, March 7th. Finally, William Blair reaffirmed a "market perform" rating on shares of Potbelly in a research report on Thursday, March 20th.

Insider Transactions at Potbelly

In other Potbelly news, major shareholder David Nierenberg purchased 22,169 shares of the company's stock in a transaction dated Friday, March 28th. The shares were acquired at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the purchase, the insider now directly owns 124,167 shares of the company's stock, valued at $1,162,203.12. The trade was a 21.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.20% of the company's stock.

Potbelly Stock Performance

NASDAQ:PBPB traded up $0.20 during trading hours on Friday, reaching $10.90. The company had a trading volume of 129,281 shares, compared to its average volume of 211,489. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48. The firm has a market cap of $328.87 million, a price-to-earnings ratio of 8.72 and a beta of 1.68. The firm's 50 day moving average price is $9.26 and its 200-day moving average price is $10.14.

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.