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

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg acquired 22,169 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average cost of $9.36 per share, for a total transaction of $207,501.84. Following the acquisition, the insider now owns 124,167 shares in the company, valued at approximately $1,162,203.12. This trade represents a 21.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 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 bought 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 Price Performance

NASDAQ PBPB opened at $9.87 on Thursday. The firm has a market capitalization of $294.92 million, a PE ratio of 7.90 and a beta of 1.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. Potbelly Co. has a 12 month low of $6.28 and a 12 month high of $13.48. The company’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $9.89.

Wall Street Analysts Forecast Growth

PBPB has been the topic of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. StockNews.com lowered Potbelly from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Benchmark reissued a “buy” rating and set a $16.00 price target on shares of Potbelly in a report on Friday, March 7th.

Institutional Trading of Potbelly

Hedge funds and other institutional investors have recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in Potbelly during the fourth quarter valued at about $27,000. State of Wyoming boosted 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 purchasing an additional 876 shares in the last quarter. FMR LLC grew 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 worth $72,000 after purchasing an additional 7,956 shares during the last quarter. Quarry LP raised its holdings in shares of 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Potbelly during the fourth quarter valued at approximately $98,000. 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.