Potbelly Corp (NASDAQ:PBPB) Sees Large Increase in Short Interest

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Potbelly Corp (NASDAQ:PBPB) was the recipient of a large growth in short interest in the month of 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. Currently, 8.1% of the company’s stock are sold short. Based on an average daily volume of 292,400 shares, the short-interest ratio is presently 6.6 days.

A number of large investors have recently bought and sold shares of PBPB. Millennium Management LLC lifted its position 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 acquiring an additional 310,119 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Potbelly in the fourth quarter worth $929,000. Confluence Investment Management LLC raised its holdings in shares of Potbelly by 23.8% in the first quarter. Confluence Investment Management LLC now owns 454,793 shares of the company’s stock worth $3,871,000 after buying an additional 87,478 shares during the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of Potbelly by 15.7% in the first quarter. Kennedy Capital Management Inc. now owns 618,248 shares of the company’s stock worth $5,261,000 after buying an additional 84,093 shares during the last quarter. Finally, Martingale Asset Management L P raised its holdings in shares of Potbelly by 125.3% in the first quarter. Martingale Asset Management L P now owns 144,614 shares of the company’s stock worth $1,231,000 after buying an additional 80,414 shares during the last quarter. 72.03% of the stock is owned by institutional investors.

PBPB has been the subject of several research reports. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Maxim Group set a $7.00 price target on shares of Eagle Bulk Shipping and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Potbelly has a consensus rating of “Sell” and a consensus target price of $8.92.

NASDAQ:PBPB opened at $4.46 on Friday. Potbelly has a 52 week low of $4.24 and a 52 week high of $14.15. The company’s 50 day moving average price is $4.93. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.62 and a quick ratio of 0.56. The stock has a market capitalization of $106.79 million, a PE ratio of 29.73 and a beta of 1.37.

Potbelly (NASDAQ:PBPB) last posted its earnings results on Tuesday, May 7th. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.08). Potbelly had a negative net margin of 6.01% and a positive return on equity of 3.85%. The firm had revenue of $98.09 million for the quarter, compared to analysts’ expectations of $100.96 million. During the same period in the previous year, the company earned $0.03 EPS. The company’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts anticipate that Potbelly will post -0.03 earnings per share for the current fiscal year.

Potbelly Company Profile

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.

Further Reading: Risk Tolerance

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