Tectonic Advisors LLC Raises Position in Potbelly Co. (NASDAQ:PBPB)

Tectonic Advisors LLC lifted its stake in Potbelly Co. (NASDAQ:PBPB) by 73.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,353 shares of the company’s stock after buying an additional 40,424 shares during the period. Tectonic Advisors LLC’s holdings in Potbelly were worth $795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Potbelly by 7.0% in the first quarter. BNP Paribas Financial Markets now owns 22,385 shares of the company’s stock worth $271,000 after buying an additional 1,472 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Potbelly in the second quarter worth about $25,000. American Century Companies Inc. boosted its holdings in 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 during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Potbelly by 8.8% in the first quarter. Janney Montgomery Scott LLC now owns 61,693 shares of the company’s stock valued at $747,000 after purchasing an additional 4,971 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Potbelly by 47.9% during the 2nd 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 Stock Performance

Shares of Potbelly stock opened at $7.78 on Friday. The firm has a market cap of $232.93 million, a PE ratio of 6.59 and a beta of 1.19. The firm’s 50-day simple moving average is $8.04 and its 200-day simple moving average is $8.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.39 and a current ratio of 0.45. Potbelly Co. has a 1 year low of $6.28 and a 1 year high of $14.36.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, major shareholder Nierenberg Investment Manageme acquired 23,394 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $6.62 per share, for a total transaction of $154,868.28. Following the completion of the acquisition, the insider now directly owns 1,561,985 shares of the company’s stock, valued at approximately $10,340,340.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.10% of the stock is owned by insiders.

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.