Insider Buying: Potbelly Co. (NASDAQ:PBPB) Major Shareholder Acquires $70,148.00 in Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg purchased 7,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $9.23 per share, for a total transaction of $70,148.00. Following the completion of the purchase, the insider now owns 101,998 shares in the company, valued at $941,441.54. This trade represents a 8.05 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 bought 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 Monday. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $9.62 and a 200 day simple moving average of $8.41. Potbelly Co. has a 12-month low of $6.28 and a 12-month high of $14.36. The company has a market cap of $271.53 million, a P/E ratio of 7.26 and a beta of 1.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PBPB. Meeder Asset Management Inc. acquired a new stake in shares of Potbelly in the 2nd quarter worth about $25,000. FMR LLC raised its stake in shares of Potbelly by 1,101.9% in the third 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. The Manufacturers Life Insurance Company bought a new position in shares of Potbelly in the second quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Potbelly during the third quarter valued at approximately $87,000. Finally, Quarry LP grew its holdings in Potbelly by 662.9% during the third quarter. Quarry LP now owns 10,925 shares of the company’s stock worth $91,000 after buying an additional 9,493 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors and hedge funds.

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.