Potbelly Co. (NASDAQ:PBPB) Short Interest Up 17.6% in January

Potbelly Co. (NASDAQ:PBPB) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 807,000 shares, an increase of 17.6% from the January 15th total of 686,300 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average trading volume of 181,400 shares, the days-to-cover ratio is currently 4.4 days.

Potbelly Price Performance

Potbelly stock traded down $0.31 during trading hours on Friday, hitting $12.39. 167,004 shares of the stock were exchanged, compared to its average volume of 256,920. 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 stock has a market capitalization of $370.96 million, a P/E ratio of 9.91 and a beta of 1.34. Potbelly has a 12 month low of $6.28 and a 12 month high of $14.36. The business’s 50-day moving average is $10.68 and its two-hundred day moving average is $9.20.

Insider Activity at Potbelly

In other news, major shareholder David Nierenberg acquired 7,600 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $9.23 per share, with a total value of $70,148.00. Following the completion of the purchase, the insider now owns 101,998 shares of the company’s stock, valued at $941,441.54. This represents a 8.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Potbelly

Several large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd grew its stake in Potbelly by 4.8% during the third quarter. XTX Topco Ltd now owns 31,984 shares of the company’s stock worth $267,000 after buying an additional 1,456 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Potbelly during the fourth quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 3,000 shares during the last quarter. Barclays PLC grew its stake in shares of Potbelly by 9.3% during the fourth quarter. Barclays PLC now owns 43,480 shares of the company’s stock valued at $410,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Potbelly by 50.6% during the fourth quarter. Wells Fargo & Company MN now owns 12,883 shares of the company’s stock valued at $121,000 after purchasing an additional 4,328 shares during the last quarter. 72.60% of the stock is owned by institutional investors.

Potbelly Company Profile

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.