Rhumbline Advisers Boosts Stake in Potbelly Corporation $PBPB

Rhumbline Advisers lifted its holdings in Potbelly Corporation (NASDAQ:PBPB) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,872 shares of the company’s stock after purchasing an additional 2,108 shares during the quarter. Rhumbline Advisers owned 0.13% of Potbelly worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. AlphaQuest LLC purchased a new position in shares of Potbelly in the first quarter worth $57,000. GAMMA Investing LLC raised its stake in shares of Potbelly by 2,637.9% in the first quarter. GAMMA Investing LLC now owns 7,009 shares of the company’s stock worth $737,000 after purchasing an additional 6,753 shares during the last quarter. State of Wyoming raised its stake in shares of Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock worth $66,000 after purchasing an additional 876 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Potbelly in the first quarter worth $158,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Potbelly by 27.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 20,945 shares of the company’s stock worth $199,000 after purchasing an additional 4,473 shares during the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Potbelly Stock Up 0.2%

Shares of PBPB opened at $17.04 on Thursday. The business has a 50-day simple moving average of $13.47 and a two-hundred day simple moving average of $11.26. The stock has a market cap of $515.63 million, a price-to-earnings ratio of 48.69 and a beta of 1.50. Potbelly Corporation has a 52 week low of $7.27 and a 52 week high of $17.06.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $123.71 million during the quarter, compared to analysts’ expectations of $122.65 million. Potbelly had a return on equity of 16.31% and a net margin of 2.30%. On average, equities analysts anticipate that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PBPB shares. Benchmark cut Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Friday, September 12th. Craig Hallum cut Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 price objective for the company. in a research report on Wednesday, September 10th. Finally, Lake Street Capital cut Potbelly from a “buy” rating to a “hold” rating and upped their price objective for the company from $15.00 to $17.12 in a research report on Thursday, September 11th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.41.

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.