Los Angeles Capital Management LLC Sells 66,102 Shares of Potbelly Co. (NASDAQ:PBPB)

Los Angeles Capital Management LLC lessened its stake in shares of Potbelly Co. (NASDAQ:PBPB) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,605 shares of the company’s stock after selling 66,102 shares during the period. Los Angeles Capital Management LLC owned 0.44% of Potbelly worth $1,106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Potbelly by 7.0% during the first 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 last quarter. Meeder Asset Management Inc. bought a new position in shares of Potbelly during the 2nd quarter valued at approximately $25,000. American Century Companies Inc. grew its holdings in shares of Potbelly by 7.7% in the second quarter. American Century Companies Inc. now owns 55,969 shares of the company’s stock valued at $449,000 after purchasing an additional 3,999 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Potbelly by 8.8% in the first quarter. Janney Montgomery Scott LLC now owns 61,693 shares of the company’s stock worth $747,000 after purchasing an additional 4,971 shares during the last quarter. Finally, Quest Partners LLC increased its position in Potbelly by 47.9% in the second quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock worth $127,000 after purchasing an additional 5,118 shares during the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Potbelly Trading Down 4.3 %

Shares of PBPB opened at $10.28 on Friday. The company’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.11. The company has a market cap of $307.78 million, a P/E ratio of 8.22 and a beta of 1.21. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. Potbelly Co. has a twelve month low of $6.28 and a twelve month high of $14.36.

Wall Street Analysts Forecast Growth

PBPB has been the subject of a number of recent research reports. Craig Hallum dropped their price objective on shares of Potbelly from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $16.00 price objective on shares of Potbelly in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Potbelly has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.