Millennium Management LLC grew its position in Potbelly Corp (NASDAQ:PBPB) by 97.1% during the fourth quarter, HoldingsChannel reports. The firm owned 629,545 shares of the company’s stock after acquiring an additional 310,119 shares during the period. Millennium Management LLC’s holdings in Potbelly were worth $5,068,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in Potbelly by 15.8% during the 3rd quarter. Wells Fargo & Company MN now owns 76,937 shares of the company’s stock valued at $947,000 after acquiring an additional 10,494 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Potbelly during the 3rd quarter valued at about $213,000. Dimensional Fund Advisors LP grew its stake in Potbelly by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,258 shares of the company’s stock valued at $17,937,000 after acquiring an additional 33,158 shares in the last quarter. Renaissance Technologies LLC grew its stake in Potbelly by 1.6% during the 3rd quarter. Renaissance Technologies LLC now owns 2,161,600 shares of the company’s stock valued at $26,588,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Potbelly during the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 72.87% of the company’s stock.
Potbelly stock opened at $9.00 on Tuesday. Potbelly Corp has a 1-year low of $7.71 and a 1-year high of $14.15. The company has a market capitalization of $215.46 million, a PE ratio of 29.80, a PEG ratio of 1.92 and a beta of 1.03.
Potbelly (NASDAQ:PBPB) last posted its quarterly earnings results on Monday, February 25th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Potbelly had a negative net margin of 2.10% and a positive return on equity of 6.81%. The business had revenue of $102.37 million during the quarter, compared to analysts’ expectations of $103.65 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Potbelly Corp will post 0.27 earnings per share for the current year.
PBPB has been the subject of several analyst reports. Zacks Investment Research cut shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. ValuEngine cut shares of Potbelly from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Maxim Group reissued a “buy” rating and issued a $12.00 price target on shares of Potbelly in a research note on Monday, January 28th. Finally, Bank of America set a $9.00 price target on shares of Potbelly and gave the company a “sell” rating in a research note on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.92.
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Potbelly Company Profile
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.
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