Potbelly Corp (NASDAQ:PBPB) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,924,500 shares, a growth of 7.1% from the May 15th total of 1,796,900 shares. Approximately 8.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 292,400 shares, the short-interest ratio is presently 6.6 days.
A number of hedge funds and other institutional investors have recently made changes to their positions in PBPB. Millennium Management LLC raised its stake in Potbelly by 97.1% during the fourth quarter. Millennium Management LLC now owns 629,545 shares of the company’s stock valued at $5,068,000 after buying an additional 310,119 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Potbelly during the fourth quarter valued at approximately $929,000. Confluence Investment Management LLC grew its holdings in shares of Potbelly by 23.8% during the first quarter. Confluence Investment Management LLC now owns 454,793 shares of the company’s stock valued at $3,871,000 after purchasing an additional 87,478 shares during the last quarter. Kennedy Capital Management Inc. grew its holdings in shares of Potbelly by 15.7% during the first quarter. Kennedy Capital Management Inc. now owns 618,248 shares of the company’s stock valued at $5,261,000 after purchasing an additional 84,093 shares during the last quarter. Finally, Martingale Asset Management L P grew its holdings in shares of Potbelly by 125.3% during the first quarter. Martingale Asset Management L P now owns 144,614 shares of the company’s stock valued at $1,231,000 after purchasing an additional 80,414 shares during the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.
PBPB has been the subject of several recent research reports. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Maxim Group set a $7.00 price objective on Eagle Bulk Shipping and gave the company a “buy” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Potbelly has a consensus rating of “Sell” and a consensus target price of $8.92.
Potbelly (NASDAQ:PBPB) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.08). Potbelly had a positive return on equity of 3.85% and a negative net margin of 6.01%. The business had revenue of $98.09 million during the quarter, compared to analyst estimates of $100.96 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that Potbelly will post -0.03 earnings per share for the current fiscal year.
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.
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