Nierenberg Investment Management recently announced the acquisition of new stake in Potbelly Corporation (NASDAQ:PBPB). The institutional investor has increased its shareholding in the Consumer Cyclical company by 6.60% to 2.69 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 9.34% valued currently at $14.98 million. In addition, Punch & Associates Investment Man raised its holdings by 1175.0 to 1.24 million shares. And Heartland Advisors, Inc. has lifted its position by 9.34% or 51237.0 shares – to 0.6 million shares.
With over 0.14 million Potbelly Corporation (PBPB) shares trading Friday and a closing price of $7.47 on the day, the dollar volume was approximately $1.02 million. The shares have shown a positive half year performance of 40.15% and its price on 01/20/23 gained nearly 1.08%. Currently, there are 28.73M common shares owned by the public and among those 22.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PBPB have a consensus price objective of $6.00. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $6.00. But a downside of -24.5% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 403,630 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 91,271 shares.
The top 3 mutual fund holders in Potbelly Corporation are 180 Degree Capital Corp, Heartland Group Inc. – Value Fund, and Vanguard Total Stock Market Index. 180 Degree Capital Corp owns 1.59 million shares of the company’s stock, all valued at over $8.83 million. The company bought an additional 67318.0 shares recently to bring their total holdings to about 5.51% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.32% of the shares outstanding.
Shares of Potbelly Corporation (NASDAQ: PBPB) opened at $7.40, up $0.01 from a prior closing price of $7.39. However, the script later moved the day high at 7.55, up 1.08%. The company’s stock has a 5-day price change of 6.71% and 55.62% over the past three months. PBPB shares are trading 34.11% year to date (YTD), with the 12-month market performance up to 31.28% higher. It has a 12-month low price of $4.31 and touched a high of $7.45 over the same period. PBPB has an average intraday trading volume of 52.75K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 23.91%, 30.72%, and 34.95% respectively.
Institutional ownership of Potbelly Corporation (NASDAQ: PBPB) shares accounts for 59.30% of the company’s 28.73M shares outstanding. Mutual fund holders own 34.60%, while other institutional holders and individual stakeholders account for 55.83% and 16.28% respectively.
It has a market capitalization of $212.89M and a beta (3y monthly) value of 1.21. The earnings-per-share (ttm) stands at -$0.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.56% over the week and 4.98% over the month.
Analysts forecast that Potbelly Corporation (PBPB) will achieve an EPS of $0.07 for the current quarter, $0.05 for the next quarter and $0.13 for 2023. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 68.60%, and 550.00% over the next financial year. EPS should grow at an annualized rate of 4.00% over the next five years, compared to -36.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Potbelly Corporation (PBPB) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Maxim Group coverage for the Potbelly Corporation (PBPB) stock in a research note released on November 05, 2019 offered a Hold rating with a price target of $5. Maxim Group was of a view on July 31, 2019 that the stock is Hold, while Maxim Group gave the stock Hold rating on May 08, 2019, issuing a price target of $11- $8. Maxim Group on their part issued Buy rating on February 26, 2019.