Potbelly Corporation (PBPB) Stake Lowered by Algert Global LLC
Algert Global LLC lowered its position in Potbelly Corporation (NASDAQ:PBPB) by 91.2% during the second quarter, Holdings Channel reports. The institutional investor owned 15,330 shares of the company’s stock after selling 159,270 shares during the period. Algert Global LLC’s holdings in Potbelly Corporation were worth $176,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Potbelly Corporation during the fourth quarter worth approximately $146,000. HighTower Advisors LLC bought a new stake in shares of Potbelly Corporation during the first quarter worth approximately $150,000. Dubuque Bank & Trust Co. raised its stake in shares of Potbelly Corporation by 8.6% in the second quarter. Dubuque Bank & Trust Co. now owns 13,151 shares of the company’s stock worth $151,000 after buying an additional 1,037 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Potbelly Corporation during the first quarter worth approximately $191,000. Finally, American International Group Inc. raised its stake in shares of Potbelly Corporation by 7.2% in the first quarter. American International Group Inc. now owns 14,685 shares of the company’s stock worth $204,000 after buying an additional 983 shares during the last quarter. 72.97% of the stock is currently owned by institutional investors.
Shares of Potbelly Corporation (PBPB) opened at 11.20 on Friday. The company’s 50 day moving average is $11.75 and its 200-day moving average is $12.44. Potbelly Corporation has a one year low of $10.50 and a one year high of $14.55. The firm has a market capitalization of $281.40 million, a price-to-earnings ratio of 70.44 and a beta of 0.91.
Potbelly Corporation (NASDAQ:PBPB) last issued its earnings results on Friday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $108.10 million for the quarter, compared to the consensus estimate of $109.78 million. Potbelly Corporation had a return on equity of 8.68% and a net margin of 1.03%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. Equities analysts expect that Potbelly Corporation will post $0.32 EPS for the current year.
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A number of brokerages recently commented on PBPB. Maxim Group dropped their price objective on shares of Potbelly Corporation from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, August 4th. BidaskClub upgraded shares of Potbelly Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded shares of Potbelly Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet lowered shares of Potbelly Corporation from a “b-” rating to a “c” rating in a report on Monday, June 19th. Finally, William Blair lowered shares of Potbelly Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $13.50.
About Potbelly Corporation
Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.
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