David Nierenberg Buys 4,740 Shares of Potbelly Co. (NASDAQ:PBPB) Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg bought 4,740 shares of the stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $9.36 per share, for a total transaction of $44,366.40. Following the purchase, the insider now owns 3,150 shares in the company, valued at $29,484. This trade represents a -298.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Potbelly Stock Down 0.6 %

Potbelly stock opened at $9.02 on Monday. The stock has a market cap of $270.03 million, a price-to-earnings ratio of 7.22 and a beta of 1.28. 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’s 50-day moving average price is $9.24 and its two-hundred day moving average price is $8.24. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $14.36.

Hedge Funds Weigh In On Potbelly

Several large investors have recently bought and sold shares of PBPB. Meeder Asset Management Inc. acquired a new position in shares of Potbelly in the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC grew its stake in shares of Potbelly by 9,350.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the company’s stock worth $63,000 after purchasing an additional 7,761 shares during the last quarter. FMR LLC grew its stake in shares of Potbelly by 1,101.9% in the 3rd 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 acquired a new position in shares of Potbelly in the 2nd quarter worth approximately $86,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Potbelly in the 3rd quarter worth approximately $87,000. Institutional investors and hedge funds 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.