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

Potbelly Co. (NASDAQ:PBPB - Get Free Report) major shareholder David Nierenberg acquired 4,740 shares of Potbelly stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $9.36 per share, with a total value of $44,366.40. Following the purchase, the insider now directly owns 3,150 shares in the company, valued at approximately $29,484. This trade represents a -298.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Potbelly Stock Performance

NASDAQ:PBPB traded down $0.05 during trading on Friday, reaching $9.02. The company's stock had a trading volume of 187,974 shares, compared to its average volume of 218,885. The firm 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 debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The firm has a 50 day moving average of $9.22 and a 200-day moving average of $8.25. Potbelly Co. has a 12 month low of $6.28 and a 12 month high of $14.36.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cerity Partners LLC bought a new position in Potbelly in the 3rd quarter valued at $2,332,000. First Eagle Investment Management LLC grew its stake in Potbelly by 17.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company's stock valued at $8,121,000 after purchasing an additional 152,200 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Potbelly during the 2nd quarter valued at $1,070,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Potbelly during the 3rd quarter valued at $87,000. Finally, Hodges Capital Management Inc. lifted its position in shares of Potbelly by 152.1% during the 2nd quarter. Hodges Capital Management Inc. now owns 293,570 shares of the company's stock valued at $2,357,000 after buying an additional 177,100 shares during the last quarter. Institutional investors own 72.60% of the company's stock.

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.

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