Next Level Private LLC Sells 5,000 Shares of Potbelly Co. (NASDAQ:PBPB)

Next Level Private LLC cut its holdings in Potbelly Co. (NASDAQ:PBPB) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,853 shares of the company’s stock after selling 5,000 shares during the quarter. Next Level Private LLC owned 0.07% of Potbelly worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of Potbelly by 7.0% during the 1st quarter. BNP Paribas Financial Markets now owns 22,385 shares of the company’s stock valued at $271,000 after buying an additional 1,472 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Potbelly during the 2nd quarter valued at $25,000. American Century Companies Inc. lifted its holdings in shares of Potbelly by 7.7% during the 2nd quarter. American Century Companies Inc. now owns 55,969 shares of the company’s stock valued at $449,000 after buying an additional 3,999 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Potbelly by 8.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 61,693 shares of the company’s stock valued at $747,000 after buying an additional 4,971 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Potbelly by 47.9% during the 2nd quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock valued at $127,000 after buying an additional 5,118 shares during the period. 72.60% of the stock is owned by institutional investors.

Potbelly Stock Performance

Shares of PBPB stock opened at $8.18 on Friday. Potbelly Co. has a 52-week low of $6.28 and a 52-week high of $14.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.39 and a current ratio of 0.45. The firm has a market capitalization of $244.11 million, a PE ratio of 68.17 and a beta of 1.19. The stock has a fifty day simple moving average of $7.84 and a two-hundred day simple moving average of $8.51.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Potbelly had a return on equity of 21.42% and a net margin of 7.58%. The business had revenue of $119.70 million during the quarter, compared to analyst estimates of $119.00 million. During the same quarter in the prior year, the business posted $0.07 EPS. On average, analysts predict that Potbelly Co. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

PBPB has been the subject of several analyst reports. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a research note on Monday, August 12th. Craig Hallum reduced their price objective on Potbelly from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.33.

Insiders Place Their Bets

In other Potbelly news, major shareholder Nierenberg Investment Manageme purchased 45,772 shares of Potbelly stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $6.48 per share, for a total transaction of $296,602.56. Following the completion of the transaction, the insider now owns 1,546,211 shares of the company’s stock, valued at approximately $10,019,447.28. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Potbelly 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.