Potbelly Co. (NASDAQ:PBPB) Major Shareholder David Nierenberg Purchases 7,600 Shares of Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg acquired 7,600 shares of Potbelly stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired 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 directly owns 101,998 shares of the company’s stock, valued at $941,441.54. This represents a 8.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares 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 stock was bought at an average cost of $9.36 per share, with a total value of $44,366.40.

Potbelly Price Performance

Shares of NASDAQ:PBPB opened at $9.07 on Friday. Potbelly Co. has a one year low of $6.28 and a one year high of $14.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market cap of $271.53 million, a price-to-earnings ratio of 7.26 and a beta of 1.32. The firm has a 50 day simple moving average of $9.59 and a 200 day simple moving average of $8.39.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in Potbelly during the 2nd quarter worth $25,000. FMR LLC boosted its stake in shares of Potbelly by 1,101.9% during the third quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after purchasing an additional 7,956 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Potbelly during the third quarter worth about $87,000. The Manufacturers Life Insurance Company acquired a new position in shares of Potbelly in the second quarter valued at approximately $86,000. Finally, Quarry LP boosted its position in Potbelly by 662.9% during the 3rd quarter. Quarry LP now owns 10,925 shares of the company’s stock worth $91,000 after buying an additional 9,493 shares during the period. 72.60% of the stock is currently owned by institutional investors.

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.