Potbelly (NASDAQ:PBPB) Stock Crosses Above Fifty Day Moving Average - Here's What Happened

Potbelly Corporation (NASDAQ:PBPB - Get Free Report)'s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.74 and traded as high as $12.89. Potbelly shares last traded at $12.65, with a volume of 218,100 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Benchmark increased their target price on Potbelly from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen lowered Potbelly from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Finally, William Blair reissued a "market perform" rating on shares of Potbelly in a research report on Thursday, March 20th.

Potbelly Stock Performance

The stock has a market cap of $381.35 million, a price-to-earnings ratio of 9.03 and a beta of 1.69. The firm has a fifty day simple moving average of $11.00 and a 200 day simple moving average of $10.50. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Potbelly

A number of large investors have recently bought and sold shares of PBPB. First Eagle Investment Management LLC boosted its position in Potbelly by 4.4% in the 4th quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company's stock valued at $10,935,000 after buying an additional 49,000 shares during the last quarter. Portolan Capital Management LLC increased its holdings in Potbelly by 9.3% during the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company's stock worth $9,291,000 after purchasing an additional 83,748 shares in the last quarter. Next Century Growth Investors LLC grew its stake in shares of 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 acquiring an additional 463,275 shares in the last quarter. Geode Capital Management LLC increased its stake in Potbelly by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 617,199 shares of the company's stock valued at $5,815,000 after buying an additional 8,863 shares during the last quarter. Finally, Monimus Capital Management LP acquired a new position in shares of Potbelly during the 4th quarter worth about $4,901,000. 72.60% of the stock is currently owned by institutional investors.

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.