Heartland Advisors Inc. Sells 4,650 Shares of Potbelly Co. (NASDAQ:PBPB)

Heartland Advisors Inc. trimmed its holdings in shares of Potbelly Co. (NASDAQ:PBPB) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 923,950 shares of the company’s stock after selling 4,650 shares during the quarter. Heartland Advisors Inc. owned 3.09% of Potbelly worth $8,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd raised its position in Potbelly by 4.8% in the 3rd quarter. XTX Topco Ltd now owns 31,984 shares of the company’s stock valued at $267,000 after buying an additional 1,456 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Potbelly by 28.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,400 shares of the company’s stock worth $124,000 after acquiring an additional 3,000 shares in the last quarter. Tectonic Advisors LLC lifted its stake in Potbelly by 5.4% in the 4th quarter. Tectonic Advisors LLC now owns 100,547 shares of the company’s stock worth $947,000 after purchasing an additional 5,194 shares in the last quarter. LPL Financial LLC boosted its stake in Potbelly by 50.8% during the fourth quarter. LPL Financial LLC now owns 19,610 shares of the company’s stock valued at $185,000 after buying an additional 6,610 shares during the period. Finally, 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 purchasing an additional 7,022 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PBPB shares. William Blair restated a “market perform” rating on shares of Potbelly in a research report on Thursday, March 20th. Benchmark restated a “buy” rating and issued a $16.00 target price on shares of Potbelly in a research note on Friday, March 7th. Finally, StockNews.com cut Potbelly from a “buy” rating to a “hold” rating in a research report on Wednesday.

Potbelly Price Performance

NASDAQ:PBPB opened at $9.56 on Friday. The stock has a market capitalization of $285.65 million, a PE ratio of 7.65 and a beta of 1.50. The stock’s 50-day moving average price is $11.40 and its 200-day moving average price is $9.82. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48.

Insider Buying and Selling at Potbelly

In related news, major shareholder David Nierenberg acquired 7,600 shares of the stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $9.23 per share, with a total value of $70,148.00. Following the completion of the transaction, the insider now owns 101,998 shares in the company, valued at $941,441.54. This represents a 8.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by company insiders.

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.