Portolan Capital Management LLC Grows Stock Holdings in Potbelly Co. (NASDAQ:PBPB)

Portolan Capital Management LLC grew its holdings in Potbelly Co. (NASDAQ:PBPB) by 21.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902,529 shares of the company’s stock after purchasing an additional 160,763 shares during the quarter. Portolan Capital Management LLC owned about 3.01% of Potbelly worth $7,527,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Potbelly during the 2nd quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC raised its position in shares of Potbelly by 9,350.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the company’s stock valued at $63,000 after buying an additional 7,761 shares during the period. FMR LLC raised its position in shares of Potbelly by 1,101.9% during the 3rd quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after buying an additional 7,956 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Potbelly during the 2nd quarter valued at approximately $86,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Potbelly during the 3rd quarter valued at approximately $87,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PBPB shares. Benchmark reissued a “buy” rating and issued a $16.00 target price on shares of Potbelly in a research report on Monday, August 12th. Craig Hallum cut their target price on Potbelly from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Potbelly Stock Performance

NASDAQ:PBPB opened at $10.34 on Wednesday. The company has a fifty day simple moving average of $8.84 and a two-hundred day simple moving average of $8.15. The company has a market cap of $309.58 million, a price-to-earnings ratio of 8.27 and a beta of 1.28. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $14.36.

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.