Potbelly Corp (NASDAQ:PBPB) Short Interest Down 10.3% in November

Potbelly Corp (NASDAQ:PBPB) saw a large decrease in short interest in November. As of November 29th, there was short interest totalling 1,830,000 shares, a decrease of 10.3% from the November 14th total of 2,040,000 shares. Based on an average daily volume of 204,700 shares, the short-interest ratio is presently 8.9 days. Currently, 8.1% of the company’s stock are short sold.

Shares of PBPB stock traded down $0.10 during trading on Friday, reaching $4.08. 319,188 shares of the company’s stock were exchanged, compared to its average volume of 240,644. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $98.68 million, a PE ratio of 14.07 and a beta of 1.25. Potbelly has a twelve month low of $3.10 and a twelve month high of $9.44. The firm’s fifty day moving average price is $4.58 and its 200-day moving average price is $4.54.

Potbelly (NASDAQ:PBPB) last posted its earnings results on Monday, November 4th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $104.20 million for the quarter, compared to analyst estimates of $103.77 million. Potbelly had a negative return on equity of 1.80% and a negative net margin of 6.59%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, analysts anticipate that Potbelly will post -0.1 EPS for the current fiscal year.

A number of research firms recently weighed in on PBPB. Maxim Group boosted their target price on Potbelly from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. ValuEngine raised Potbelly from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. Zacks Investment Research lowered Potbelly from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Piper Jaffray Companies lowered Potbelly from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $5.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.13.

In related news, Director David W. Head acquired 20,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $4.30 per share, for a total transaction of $86,000.00. Also, Director David W. Head acquired 10,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $4.57 per share, for a total transaction of $45,700.00. Corporate insiders own 6.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in shares of Potbelly by 8.5% during the 3rd quarter. Rhumbline Advisers now owns 34,622 shares of the company’s stock worth $151,000 after acquiring an additional 2,706 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Potbelly by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 85,483 shares of the company’s stock valued at $435,000 after buying an additional 3,096 shares in the last quarter. State Street Corp grew its holdings in Potbelly by 0.8% in the 3rd quarter. State Street Corp now owns 474,939 shares of the company’s stock valued at $2,071,000 after buying an additional 3,662 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Potbelly by 4.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 129,952 shares of the company’s stock valued at $662,000 after buying an additional 5,778 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Potbelly in the 2nd quarter valued at $66,000. 56.88% of the stock is currently owned by institutional investors and hedge funds.

About Potbelly

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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