Insider Buying: Potbelly Co. (NASDAQ:PBPB) Major Shareholder Purchases $207,501.84 in Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg purchased 22,169 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average cost of $9.36 per share, with a total value of $207,501.84. Following the completion of the acquisition, the insider now owns 124,167 shares in the company, valued at approximately $1,162,203.12. This represents a 21.73 % increase in their position. The acquisition was disclosed in a filing 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 acquired at an average price of $9.23 per share, with a total value of $70,148.00.

Potbelly Trading Up 0.6 %

NASDAQ:PBPB opened at $9.87 on Thursday. The company has a market cap of $294.92 million, a PE ratio of 7.90 and a beta of 1.50. The business’s 50 day moving average is $11.32 and its two-hundred day moving average is $9.89. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Benchmark reissued a “buy” rating and issued a $16.00 price target on shares of Potbelly in a report on Friday, March 7th. William Blair restated a “market perform” rating on shares of Potbelly in a research note on Thursday, March 20th. Finally, StockNews.com downgraded shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

Hedge Funds Weigh In On Potbelly

Several large investors have recently added to or reduced their stakes in PBPB. State of Wyoming increased its stake in Potbelly by 14.3% during the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after purchasing an additional 876 shares during the last quarter. Deutsche Bank AG grew its position in shares of Potbelly by 35.8% during the 4th quarter. Deutsche Bank AG now owns 24,997 shares of the company’s stock valued at $235,000 after buying an additional 6,594 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in Potbelly during the fourth quarter worth about $160,000. Cubist Systematic Strategies LLC bought a new position in Potbelly in the fourth quarter worth about $471,000. Finally, Bank of America Corp DE boosted its stake in Potbelly by 10.5% in the fourth quarter. Bank of America Corp DE now owns 25,491 shares of the company’s stock valued at $240,000 after acquiring an additional 2,418 shares during the period. 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.