Confluence Investment Management LLC increased its position in shares of Potbelly Corp. (NASDAQ:PBPB) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 170,826 shares of the company’s stock after buying an additional 6,143 shares during the period. Confluence Investment Management LLC’s holdings in Potbelly Corp. were worth $2,142,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Boston Advisors LLC bought a new position in shares of Potbelly Corp. during the second quarter worth about $502,000. Bank of Montreal Can bought a new position in shares of Potbelly Corp. during the second quarter worth about $597,000. Skylands Capital LLC bought a new position in shares of Potbelly Corp. during the second quarter worth about $523,000. Acadian Asset Management LLC raised its position in shares of Potbelly Corp. by 33.6% in the second quarter. Acadian Asset Management LLC now owns 89,112 shares of the company’s stock worth $1,116,000 after buying an additional 22,419 shares in the last quarter. Finally, First National Bank of Omaha bought a new position in shares of Potbelly Corp. during the second quarter worth about $481,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.
Potbelly Corp. (NASDAQ:PBPB) traded down 3.23% during trading on Wednesday, hitting $12.59. 213,043 shares of the stock traded hands. Potbelly Corp. has a 52 week low of $9.82 and a 52 week high of $14.99. The stock has a market cap of $317.17 million, a P/E ratio of 47.33 and a beta of 1.01. The firm’s 50-day moving average is $12.97 and its 200 day moving average is $13.16.
Potbelly Corp. (NASDAQ:PBPB) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. Potbelly Corp. had a return on equity of 7.32% and a net margin of 1.81%. The business earned $105 million during the quarter, compared to analysts’ expectations of $105.67 million. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Potbelly Corp. will post $0.37 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating on shares of Potbelly Corp. in a research report on Thursday, September 8th. Zacks Investment Research upgraded shares of Potbelly Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Potbelly Corp. presently has an average rating of “Hold” and an average target price of $13.70.
In related news, SVP Matthew J. Revord sold 30,000 shares of Potbelly Corp. stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $12.46, for a total value of $373,800.00. Following the completion of the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at $373,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew J. Revord sold 20,000 shares of Potbelly Corp. stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $12.85, for a total value of $257,000.00. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at $257,000. The disclosure for this sale can be found here. 9.30% of the stock is owned by corporate insiders.
Potbelly Corp. Company Profile
Potbelly Corporation is a neighborhood sandwich concept offering sandwiches, salads and other menu items. The Company owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company also has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops.
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