Potbelly (NASDAQ:PBPB) Lowered to "Hold" Rating by StockNews.com

Potbelly (NASDAQ:PBPB - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.

A number of other research firms also recently commented on PBPB. Benchmark reiterated a "buy" rating and issued a $16.00 target price on shares of Potbelly in a report on Friday, March 7th. William Blair reaffirmed a "market perform" rating on shares of Potbelly in a report on Thursday, March 20th.

Potbelly Price Performance

Shares of Potbelly stock opened at $10.24 on Friday. Potbelly has a 52 week low of $6.28 and a 52 week high of $13.48. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. The stock has a market cap of $308.96 million, a PE ratio of 8.19 and a beta of 1.47. The company's 50-day moving average price is $8.96 and its two-hundred day moving average price is $9.99.

Insider Buying and Selling

In other news, major shareholder David Nierenberg bought 22,169 shares of the firm's stock in a transaction on Friday, March 28th. The stock was bought at an average cost of $9.36 per share, for a total transaction of $207,501.84. Following the completion of the acquisition, the insider now directly owns 124,167 shares in the company, valued at $1,162,203.12. This represents a 21.73% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 10.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Potbelly

Hedge funds have recently made changes to their positions in the company. State of Wyoming grew its position in Potbelly by 133.0% during the 1st quarter. State of Wyoming now owns 16,337 shares of the company's stock worth $155,000 after purchasing an additional 9,325 shares in the last quarter. Next Century Growth Investors LLC boosted its position in shares of Potbelly by 298.3% in the first 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. AlphaQuest LLC purchased a new position in shares of Potbelly during the first quarter valued at $57,000. American Century Companies Inc. raised its position in Potbelly by 162.6% during the first quarter. American Century Companies Inc. now owns 386,430 shares of the company's stock valued at $3,675,000 after buying an additional 239,283 shares during the period. Finally, Boston Partners raised its position in Potbelly by 4.1% during the first quarter. Boston Partners now owns 54,966 shares of the company's stock valued at $523,000 after buying an additional 2,153 shares during the period. Hedge funds and other institutional investors own 72.60% of the company's stock.

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.

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