Insider Buying: Potbelly Co. (NASDAQ:PBPB) Major Shareholder Buys 7,600 Shares of Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg bought 7,600 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average price of $9.23 per share, with a total value of $70,148.00. Following the completion of the acquisition, the insider now directly owns 101,998 shares in the company, valued at $941,441.54. This represents a 8.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 shares were acquired at an average price of $9.36 per share, with a total value of $44,366.40.

Potbelly Price Performance

NASDAQ:PBPB traded up $0.06 during mid-day trading on Friday, hitting $9.07. 173,606 shares of the company’s stock traded hands, compared to its average volume of 119,068. The company has a market cap of $271.53 million, a PE ratio of 7.26 and a beta of 1.32. Potbelly Co. has a 1 year low of $6.28 and a 1 year high of $14.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The firm’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $8.39.

Institutional Investors Weigh In On Potbelly

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC grew its holdings in shares of Potbelly by 17.7% during the second quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company’s stock worth $8,121,000 after buying an additional 152,200 shares in the last quarter. Portolan Capital Management LLC grew its holdings in shares of Potbelly by 21.7% during the third quarter. Portolan Capital Management LLC now owns 902,529 shares of the company’s stock worth $7,527,000 after buying an additional 160,763 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Potbelly by 3.6% during the third quarter. Geode Capital Management LLC now owns 608,336 shares of the company’s stock worth $5,074,000 after buying an additional 21,188 shares in the last quarter. State Street Corp grew its holdings in shares of Potbelly by 1.4% during the third quarter. State Street Corp now owns 498,915 shares of the company’s stock worth $4,161,000 after buying an additional 7,022 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in shares of Potbelly by 29.4% during the third quarter. Hodges Capital Management Inc. now owns 380,015 shares of the company’s stock worth $3,169,000 after buying an additional 86,445 shares in the last quarter. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

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.