David Nierenberg Purchases 7,600 Shares of Potbelly Co. (NASDAQ:PBPB) Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg bought 7,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $9.23 per share, with a total value of $70,148.00. Following the transaction, the insider now directly owns 101,998 shares in the company, valued at $941,441.54. This represents a 8.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares 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 acquired 4,740 shares of Potbelly stock. The shares were purchased at an average cost of $9.36 per share, for a total transaction of $44,366.40.

Potbelly Stock Performance

NASDAQ:PBPB opened at $9.07 on Friday. The stock has a market capitalization of $271.53 million, a P/E 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 firm has a 50 day moving average of $9.62 and a 200-day moving average of $8.41. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Potbelly

Several institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in shares of Potbelly in the second quarter valued at $25,000. FMR LLC grew its holdings in Potbelly by 1,101.9% during the 3rd quarter. FMR LLC now owns 8,678 shares of the company’s stock worth $72,000 after acquiring an additional 7,956 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Potbelly in the 3rd quarter valued at about $87,000. The Manufacturers Life Insurance Company bought a new position in shares of Potbelly in the second quarter worth about $86,000. Finally, Quarry LP lifted its position in shares of Potbelly by 662.9% during the third 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. 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.