1492 Capital Management LLC Invests $249,000 in Potbelly Co. (NASDAQ:PBPB)

1492 Capital Management LLC bought a new position in Potbelly Co. (NASDAQ:PBPB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,444 shares of the company’s stock, valued at approximately $249,000. 1492 Capital Management LLC owned about 0.09% of Potbelly as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PBPB. FMR LLC increased its stake in 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 in the last quarter. State Street Corp increased its position in shares of Potbelly by 1.4% in the third quarter. State Street Corp now owns 498,915 shares of the company’s stock worth $4,161,000 after acquiring an additional 7,022 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Potbelly by 4.8% during the third quarter. XTX Topco Ltd now owns 31,984 shares of the company’s stock valued at $267,000 after acquiring an additional 1,456 shares during the period. Barclays PLC lifted its position in shares of Potbelly by 247.8% in the 3rd quarter. Barclays PLC now owns 39,780 shares of the company’s stock valued at $332,000 after acquiring an additional 28,342 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Potbelly by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 608,336 shares of the company’s stock valued at $5,074,000 after acquiring an additional 21,188 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

Potbelly Trading Up 1.5 %

Potbelly stock opened at $8.01 on Friday. Potbelly Co. has a 12 month low of $6.28 and a 12 month high of $13.48. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. The stock has a market cap of $241.68 million, a P/E ratio of 6.41 and a beta of 1.38. The company’s fifty day simple moving average is $10.24 and its 200-day simple moving average is $9.90.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. William Blair reissued a “market perform” rating on shares of Potbelly in a research note on Thursday, March 20th. StockNews.com lowered Potbelly from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Benchmark restated a “buy” rating and set a $16.00 price objective on shares of Potbelly in a research report on Friday, March 7th.

Insiders Place Their Bets

In other news, major shareholder David Nierenberg purchased 22,169 shares of Potbelly stock in a transaction dated Friday, March 28th. The stock was acquired at an average cost of $9.36 per share, for a total transaction of $207,501.84. Following the acquisition, the insider now directly owns 124,167 shares in the company, valued at $1,162,203.12. This represents a 21.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.20% of the company’s stock.

Potbelly 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.