Potbelly Co. (NASDAQ:PBPB) Major Shareholder Acquires $70,148.00 in Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg purchased 7,600 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $9.23 per share, with a total value of $70,148.00. Following the purchase, the insider now owns 101,998 shares of the company’s stock, valued at approximately $941,441.54. This trade represents a 8.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, December 18th, David Nierenberg bought 4,740 shares of Potbelly stock. The stock was bought at an average price of $9.36 per share, for a total transaction of $44,366.40.

Potbelly Stock Up 0.7 %

Shares of NASDAQ PBPB opened at $9.07 on Friday. The company’s 50 day moving average price is $9.59 and its 200-day moving average price is $8.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. Potbelly Co. has a 52-week low of $6.28 and a 52-week high of $14.36. The company has a market capitalization of $271.53 million, a P/E ratio of 7.26 and a beta of 1.32.

Hedge Funds Weigh In On Potbelly

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Potbelly by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 85,048 shares of the company’s stock worth $683,000 after acquiring an additional 7,012 shares in the last quarter. Rhumbline Advisers increased its holdings in Potbelly by 21.6% in the second quarter. Rhumbline Advisers now owns 35,146 shares of the company’s stock worth $282,000 after purchasing an additional 6,239 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Potbelly by 14.6% in the second quarter. Victory Capital Management Inc. now owns 66,500 shares of the company’s stock valued at $534,000 after buying an additional 8,484 shares during the period. Quest Partners LLC boosted its holdings in shares of Potbelly by 47.9% during the 2nd quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock worth $127,000 after buying an additional 5,118 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Potbelly by 7.7% during the 2nd quarter. American Century Companies Inc. now owns 55,969 shares of the company’s stock worth $449,000 after buying an additional 3,999 shares during the period. Institutional investors own 72.60% of the company’s stock.

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.