Insider Buying: Potbelly Co. (NASDAQ:PBPB) Major Shareholder Acquires 7,600 Shares of Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg acquired 7,600 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $9.23 per share, with a total value of $70,148.00. Following the purchase, the insider now owns 101,998 shares in the company, valued at approximately $941,441.54. The trade was a 8.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 stock was acquired at an average price of $9.36 per share, for a total transaction of $44,366.40.

Potbelly Stock Performance

Shares of PBPB opened at $9.07 on Monday. The stock 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. Potbelly Co. has a 12 month low of $6.28 and a 12 month high of $14.36. The company has a market capitalization of $271.53 million, a price-to-earnings ratio of 7.26 and a beta of 1.32.

Institutional Investors Weigh In On Potbelly

A number of hedge funds have recently made changes to their positions in PBPB. Bank of New York Mellon Corp raised its position in Potbelly by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 85,048 shares of the company’s stock worth $683,000 after acquiring an additional 7,012 shares during the period. Rhumbline Advisers raised its holdings in shares of Potbelly by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 35,146 shares of the company’s stock worth $282,000 after purchasing an additional 6,239 shares during the period. Victory Capital Management Inc. lifted its stake in Potbelly by 14.6% in the second quarter. Victory Capital Management Inc. now owns 66,500 shares of the company’s stock valued at $534,000 after purchasing an additional 8,484 shares during the last quarter. Quest Partners LLC lifted its stake in Potbelly by 47.9% in the second quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock valued at $127,000 after purchasing an additional 5,118 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Potbelly by 7.7% during the second quarter. American Century Companies Inc. now owns 55,969 shares of the company’s stock valued at $449,000 after purchasing an additional 3,999 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.