Insider Buying: Potbelly Co. (NASDAQ:PBPB) Major Shareholder Buys $44,366.40 in Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg purchased 4,740 shares of Potbelly stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $9.36 per share, for a total transaction of $44,366.40. Following the completion of the transaction, the insider now owns 3,150 shares in the company, valued at approximately $29,484. The trade was a -298.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Potbelly Trading Down 0.6 %

Shares of NASDAQ:PBPB opened at $9.02 on Monday. The company has a market cap of $270.03 million, a PE ratio of 7.22 and a beta of 1.28. The company’s 50-day moving average price is $9.24 and its 200 day moving average price is $8.24. Potbelly Co. has a fifty-two week low of $6.28 and a fifty-two week high of $14.36. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06.

Institutional Trading of Potbelly

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC bought a new stake in Potbelly in the 3rd quarter valued at about $2,332,000. First Eagle Investment Management LLC lifted its position in Potbelly by 17.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company’s stock valued at $8,121,000 after purchasing an additional 152,200 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Potbelly in the 2nd quarter valued at about $1,070,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Potbelly in the 3rd quarter valued at about $87,000. Finally, Hodges Capital Management Inc. lifted its position in Potbelly by 152.1% in the 2nd quarter. Hodges Capital Management Inc. now owns 293,570 shares of the company’s stock valued at $2,357,000 after purchasing an additional 177,100 shares during the last quarter. 72.60% of the stock is currently owned by 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.