10,726 Shares in Potbelly Co. (NASDAQ:PBPB) Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Potbelly Co. (NASDAQ:PBPB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,726 shares of the company’s stock, valued at approximately $86,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC acquired a new stake in shares of Potbelly during the 1st quarter valued at about $5,820,000. Russell Investments Group Ltd. raised its position in Potbelly by 224.9% during the first quarter. Russell Investments Group Ltd. now owns 300,736 shares of the company’s stock valued at $3,642,000 after acquiring an additional 208,170 shares in the last quarter. Western Standard LLC acquired a new stake in Potbelly in the first quarter valued at approximately $2,208,000. Hodges Capital Management Inc. grew its position in Potbelly by 152.1% in the second quarter. Hodges Capital Management Inc. now owns 293,570 shares of the company’s stock worth $2,357,000 after acquiring an additional 177,100 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Potbelly by 17.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company’s stock worth $8,121,000 after purchasing an additional 152,200 shares during the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Potbelly Stock Performance

Shares of PBPB opened at $8.47 on Monday. The company has a market capitalization of $252.76 million, a PE ratio of 70.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.45 and a quick ratio of 0.39. Potbelly Co. has a one year low of $6.28 and a one year high of $14.36. The company’s fifty day moving average price is $8.00 and its 200 day moving average price is $8.37.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.08 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 for the quarter, compared to analyst estimates of $119.00 million. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, analysts expect that Potbelly Co. will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Potbelly news, major shareholder Nierenberg Investment Manageme acquired 45,772 shares of Potbelly stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $6.48 per share, with a total value 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 $10,019,447.28. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a report on Monday, August 12th. Craig Hallum lowered their price objective on Potbelly from $20.00 to $16.00 and set a “buy” rating on the stock in a report 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.33.

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.