Potbelly (NASDAQ:PBPB) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Potbelly (NASDAQ:PBPB - Free Report) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research firms have also weighed in on PBPB. Benchmark reissued a "buy" rating and set a $16.00 price objective on shares of Potbelly in a research note on Friday, March 7th. William Blair reissued a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th.

Potbelly Trading Down 2.2%

Shares of NASDAQ PBPB traded down $0.23 during mid-day trading on Friday, hitting $10.01. The company's stock had a trading volume of 152,472 shares, compared to its average volume of 214,451. The stock has a market cap of $302.02 million, a price-to-earnings ratio of 8.01 and a beta of 1.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. Potbelly has a one year low of $6.28 and a one year high of $13.48. The company's fifty day simple moving average is $9.01 and its 200-day simple moving average is $10.06.

Insider Buying and Selling

In other news, major shareholder David Nierenberg acquired 22,169 shares of Potbelly stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average price of $9.36 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is owned by insiders.

Institutional Trading of Potbelly

Several hedge funds have recently bought and sold shares of PBPB. Monimus Capital Management LP acquired a new stake in Potbelly during the 4th quarter worth approximately $4,901,000. Next Century Growth Investors LLC raised its holdings in Potbelly by 298.3% during the 1st quarter. Next Century Growth Investors LLC now owns 618,591 shares of the company's stock worth $5,883,000 after buying an additional 463,275 shares during the period. Nuveen LLC acquired a new stake in Potbelly during the 1st quarter worth approximately $2,882,000. CenterBook Partners LP acquired a new stake in Potbelly during the 1st quarter worth approximately $2,873,000. Finally, American Century Companies Inc. raised its holdings in Potbelly by 162.6% during the 1st quarter. American Century Companies Inc. now owns 386,430 shares of the company's stock worth $3,675,000 after buying an additional 239,283 shares during the period. 72.60% of the stock is currently owned by institutional investors and hedge funds.

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.