Potbelly Co. (NASDAQ:PBPB) Major Shareholder David Nierenberg Acquires 22,169 Shares of Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg acquired 22,169 shares of the stock in a transaction dated Friday, March 28th. The shares were bought at an average price of $9.36 per share, with a total value of $207,501.84. Following the completion of the purchase, the insider now directly owns 124,167 shares of the company’s stock, valued at approximately $1,162,203.12. This trade represents a 21.73 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

David Nierenberg also recently made the following trade(s):

• On Tuesday, January 7th, David Nierenberg purchased 7,600 shares of Potbelly stock. The shares were purchased at an average cost of $9.23 per share, with a total value of $70,148.00.

Potbelly Stock Up 1.8 %

Potbelly stock opened at $9.51 on Tuesday. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48. The firm has a market cap of $284.16 million, a price-to-earnings ratio of 7.61 and a beta of 1.50. The business’s 50-day moving average price is $11.36 and its 200 day moving average price is $9.88. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Potbelly

Several institutional investors have recently made changes to their positions in the company. Aquatic Capital Management LLC purchased a new position in Potbelly in the fourth quarter valued at $27,000. State of Wyoming grew its position in shares of Potbelly by 14.3% during the 4th quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after acquiring an additional 876 shares during the period. FMR LLC increased its stake in shares of Potbelly by 1,101.9% in the 3rd quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after purchasing an additional 7,956 shares in the last quarter. Quarry LP raised its holdings in Potbelly by 662.9% in the 3rd quarter. Quarry LP now owns 10,925 shares of the company’s stock worth $91,000 after purchasing an additional 9,493 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in Potbelly during the fourth quarter worth approximately $98,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. William Blair reaffirmed a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. StockNews.com cut shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a research note on Friday, March 7th.

About Potbelly

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.