StockNews.com Initiates Coverage on Potbelly (NASDAQ:PBPB)

StockNews.com began coverage on shares of Potbelly (NASDAQ:PBPB – Get Rating) in a research report report published on Thursday morning. The firm issued a strong-buy rating on the stock.

Separately, TheStreet upgraded shares of Potbelly from a d+ rating to a c- rating in a report on Thursday, November 17th.

Potbelly Trading Down 1.9 %

PBPB opened at $7.78 on Thursday. The company’s 50 day moving average is $7.60 and its 200-day moving average is $6.07. The company has a market cap of $225.00 million, a P/E ratio of 55.57 and a beta of 1.34. Potbelly has a 1-year low of $4.31 and a 1-year high of $8.89. The company has a current ratio of 0.44, a quick ratio of 0.38 and a debt-to-equity ratio of 2.00.

Institutional Trading of Potbelly

Hedge funds have recently made changes to their positions in the company. CI Private Wealth LLC acquired a new position in shares of Potbelly in the fourth quarter valued at approximately $68,000. Jane Street Group LLC bought a new stake in Potbelly during the 4th quarter worth approximately $120,000. Raffles Associates LP acquired a new position in Potbelly in the 4th quarter valued at approximately $334,000. Soviero Asset Management LP raised its stake in shares of Potbelly by 5.2% during the fourth quarter. Soviero Asset Management LP now owns 1,420,000 shares of the company’s stock valued at $7,909,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Potbelly by 110.3% during the fourth quarter. Morgan Stanley now owns 19,692 shares of the company’s stock worth $110,000 after purchasing an additional 10,330 shares during the period. 51.07% of the stock is owned by institutional investors and hedge funds.

About Potbelly

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Potbelly Corp. engages in the owning and operating of sandwich restaurants. It offers toasty sandwiches, signature salads, and other fresh menu items. The company was founded in 1977 and is headquartered in Chicago, IL.