Quinn Opportunity Partners LLC Sells 6,360 Shares of Potbelly Corporation $PBPB

Quinn Opportunity Partners LLC decreased its stake in shares of Potbelly Corporation (NASDAQ:PBPB) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,703 shares of the company’s stock after selling 6,360 shares during the period. Quinn Opportunity Partners LLC owned 0.16% of Potbelly worth $609,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Tectonic Advisors LLC increased its stake in shares of Potbelly by 1.2% during the second quarter. Tectonic Advisors LLC now owns 89,004 shares of the company’s stock worth $1,090,000 after purchasing an additional 1,039 shares during the period. Bank of New York Mellon Corp increased its position in Potbelly by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 66,000 shares of the company’s stock worth $628,000 after buying an additional 1,662 shares during the period. Rhumbline Advisers lifted its holdings in shares of Potbelly by 5.7% during the first quarter. Rhumbline Advisers now owns 38,872 shares of the company’s stock worth $370,000 after buying an additional 2,108 shares in the last quarter. Boston Partners boosted its position in shares of Potbelly by 4.1% in the first quarter. Boston Partners now owns 54,966 shares of the company’s stock valued at $523,000 after acquiring an additional 2,153 shares during the period. Finally, New York State Teachers Retirement System bought a new position in Potbelly during the second quarter worth about $31,000. 72.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PBPB. Benchmark cut Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Friday, September 12th. Craig Hallum lowered Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 target price on the stock. in a report on Wednesday, September 10th. Lake Street Capital downgraded Potbelly from a “buy” rating to a “hold” rating and boosted their price target for the company from $15.00 to $17.12 in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potbelly in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Potbelly to a “hold” rating in a report on Saturday, October 25th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.41.

Potbelly Trading Up 0.1%

Shares of PBPB stock opened at $17.12 on Thursday. The firm has a market capitalization of $518.05 million, a price-to-earnings ratio of 48.92 and a beta of 1.52. The business’s 50-day moving average price is $16.73 and its 200-day moving average price is $13.29. Potbelly Corporation has a 12 month low of $7.27 and a 12 month high of $17.13.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings data on Monday, January 9th. The company reported ($0.05) earnings per share (EPS) for the quarter. Potbelly had a net margin of 2.30% and a return on equity of 16.31%. The business had revenue of $101.69 million during the quarter. Potbelly has set its Q4 2022 guidance at EPS. On average, sell-side analysts predict that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

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.