Potbelly (NASDAQ:PBPB) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Potbelly Co. (NASDAQ:PBPB) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.93 and traded as low as $8.38. Potbelly shares last traded at $9.05, with a volume of 655,607 shares trading hands.

Analyst Upgrades and Downgrades

PBPB has been the topic of a number of recent research reports. StockNews.com lowered shares of Potbelly from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. William Blair reaffirmed a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and issued a $16.00 price target on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Price Performance

The firm has a market cap of $270.41 million, a P/E ratio of 7.24 and a beta of 1.38. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $11.13 and its two-hundred day moving average is $9.93.

Insider Transactions at Potbelly

In related news, major shareholder David Nierenberg bought 22,169 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the transaction, the insider now directly owns 124,167 shares of the company’s stock, valued at approximately $1,162,203.12. The trade was a 21.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Potbelly

Large investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its position in shares of Potbelly by 4.4% during the 4th quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company’s stock worth $10,935,000 after purchasing an additional 49,000 shares in the last quarter. Portolan Capital Management LLC lifted its stake in shares of Potbelly by 9.3% in the fourth quarter. Portolan Capital Management LLC now owns 986,277 shares of the company’s stock valued at $9,291,000 after buying an additional 83,748 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Potbelly by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 617,199 shares of the company’s stock worth $5,815,000 after acquiring an additional 8,863 shares during the last quarter. Hodges Capital Management Inc. lifted its position in Potbelly by 42.1% in the 4th quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock valued at $5,086,000 after acquiring an additional 159,900 shares in the last quarter. Finally, Monimus Capital Management LP acquired a new position in Potbelly during the 4th quarter valued at about $4,901,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.

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.