Potbelly Co. (NASDAQ:PBPB) Sees Large Growth in Short Interest

Potbelly Co. (NASDAQ:PBPB) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 807,000 shares, a growth of 17.6% from the January 15th total of 686,300 shares. Based on an average trading volume of 181,400 shares, the days-to-cover ratio is currently 4.4 days. Currently, 3.2% of the company’s shares are sold short.

Potbelly Stock Down 2.4 %

PBPB traded down $0.31 during trading on Friday, reaching $12.39. The stock had a trading volume of 167,004 shares, compared to its average volume of 256,920. The stock’s 50 day moving average is $10.68 and its two-hundred day moving average is $9.18. 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 has a market capitalization of $370.96 million, a price-to-earnings ratio of 9.91 and a beta of 1.34. Potbelly has a one year low of $6.28 and a one year high of $14.36.

Insider Buying and Selling

In other Potbelly news, major shareholder David Nierenberg purchased 7,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $9.23 per share, with a total value 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. The trade was a 8.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 9.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Potbelly

A number of institutional investors have recently added to or reduced their stakes in PBPB. Aquatic Capital Management LLC bought a new position in Potbelly in the fourth quarter worth $27,000. FMR LLC increased its holdings 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 acquiring an additional 7,956 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Potbelly during the second quarter valued at $86,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Potbelly during the third quarter valued at $87,000. Finally, Quarry LP increased its holdings in shares of Potbelly by 662.9% during the third quarter. Quarry LP now owns 10,925 shares of the company’s stock valued at $91,000 after acquiring an additional 9,493 shares in the last quarter. Institutional investors 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.