Stock Traders Purchase High Volume of Potbelly Put Options (PBPB)

Potbelly Corp (NASDAQ:PBPB) was the recipient of unusually large options trading activity on Tuesday. Investors bought 1,032 put options on the stock. This represents an increase of approximately 627% compared to the average volume of 142 put options.

Several brokerages recently commented on PBPB. Zacks Investment Research upgraded shares of Potbelly from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, January 10th. Maxim Group reiterated a “hold” rating and issued a $11.00 target price on shares of Potbelly in a report on Friday, November 3rd. Finally, BidaskClub downgraded shares of Potbelly from a “sell” rating to a “strong sell” rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Potbelly presently has an average rating of “Hold” and a consensus target price of $14.25.

Potbelly (NASDAQ PBPB) opened at $11.90 on Wednesday. Potbelly has a twelve month low of $10.50 and a twelve month high of $14.28. The stock has a market cap of $301.37, a PE ratio of 31.97, a PEG ratio of 1.70 and a beta of 0.87.

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Potbelly by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,954 shares of the company’s stock worth $241,000 after purchasing an additional 354 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Potbelly by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 74,618 shares of the company’s stock worth $859,000 after purchasing an additional 456 shares during the period. Teachers Advisors LLC increased its holdings in shares of Potbelly by 4.3% during the 2nd quarter. Teachers Advisors LLC now owns 49,221 shares of the company’s stock worth $566,000 after purchasing an additional 2,030 shares during the period. Voya Investment Management LLC increased its holdings in shares of Potbelly by 19.6% during the 2nd quarter. Voya Investment Management LLC now owns 14,546 shares of the company’s stock worth $167,000 after purchasing an additional 2,382 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Potbelly by 9.6% during the 2nd quarter. Wells Fargo & Company MN now owns 67,092 shares of the company’s stock worth $771,000 after purchasing an additional 5,869 shares during the period. Institutional investors own 71.28% of the company’s stock.

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About Potbelly

Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.

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