Cerity Partners LLC Purchases Shares of 279,666 Potbelly Co. (NASDAQ:PBPB)

Cerity Partners LLC purchased a new stake in Potbelly Co. (NASDAQ:PBPB) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 279,666 shares of the company’s stock, valued at approximately $2,332,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hodges Capital Management Inc. lifted its position in shares of Potbelly by 152.1% during the second quarter. Hodges Capital Management Inc. now owns 293,570 shares of the company’s stock worth $2,357,000 after purchasing an additional 177,100 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Potbelly by 17.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company’s stock worth $8,121,000 after acquiring an additional 152,200 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Potbelly during the second quarter valued at $1,070,000. Marshall Wace LLP acquired a new stake in Potbelly during the second quarter worth about $438,000. Finally, Tectonic Advisors LLC raised its position in shares of Potbelly by 73.6% during the 3rd quarter. Tectonic Advisors LLC now owns 95,353 shares of the company’s stock worth $795,000 after purchasing an additional 40,424 shares during the period. Institutional investors and hedge funds own 72.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Craig Hallum reduced their target price 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 reiterated a “buy” rating and issued a $16.00 price target on shares of Potbelly in a research report on Monday, August 12th.

Potbelly Stock Performance

Potbelly stock opened at $10.40 on Monday. The firm’s 50 day simple moving average is $8.74 and its 200-day simple moving average is $8.13. Potbelly Co. has a fifty-two week low of $6.28 and a fifty-two week high of $14.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market cap of $311.38 million, a P/E ratio of 8.32 and a beta of 1.21.

Potbelly 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.