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

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg acquired 22,169 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the completion of the transaction, the insider now owns 124,167 shares in the company, valued at $1,162,203.12. The trade was a 21.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 stock was purchased at an average price of $9.23 per share, for a total transaction of $70,148.00.

Potbelly Stock Performance

PBPB opened at $9.81 on Wednesday. The business has a 50 day moving average price of $11.34 and a two-hundred day moving average price of $9.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market capitalization of $293.12 million, a price-to-earnings ratio of 7.85 and a beta of 1.50. Potbelly Co. has a 1-year low of $6.28 and a 1-year high of $13.48.

Analyst Ratings Changes

A number of brokerages recently issued reports on PBPB. William Blair reissued a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $16.00 price target on shares of Potbelly in a report on Friday, March 7th. Finally, StockNews.com cut shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

Institutional Trading of Potbelly

Several institutional investors have recently modified their holdings of PBPB. First Eagle Investment Management LLC grew its holdings in Potbelly by 4.4% during the fourth quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company’s stock worth $10,935,000 after acquiring an additional 49,000 shares during the period. Portolan Capital Management LLC grew its stake in shares of Potbelly by 9.3% in the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company’s stock worth $9,291,000 after purchasing an additional 83,748 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Potbelly by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 617,199 shares of the company’s stock worth $5,815,000 after purchasing an additional 8,863 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock valued at $5,086,000 after purchasing an additional 159,900 shares during the last quarter. Finally, Monimus Capital Management LP bought a new stake in Potbelly during the fourth quarter worth approximately $4,901,000. Institutional investors and hedge funds 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.