Insider Buying: Potbelly Co. (NASDAQ:PBPB) Major Shareholder Acquires 4,740 Shares of Stock

Potbelly Co. (NASDAQ:PBPB) major shareholder David Nierenberg acquired 4,740 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $9.36 per share, with a total value of $44,366.40. Following the completion of the transaction, the insider now directly owns 3,150 shares of the company’s stock, valued at approximately $29,484. The trade was a -298.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Potbelly Price Performance

Shares of NASDAQ PBPB opened at $9.02 on Friday. The business’s 50 day moving average is $9.24 and its 200-day moving average is $8.25. The firm has a market cap of $270.03 million, a P/E ratio of 7.22 and a beta of 1.28. Potbelly Co. has a 1-year low of $6.28 and a 1-year high of $14.36. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Potbelly in the second quarter valued at about $25,000. Allspring Global Investments Holdings LLC grew its position in shares of Potbelly by 9,350.6% during 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 in the last quarter. FMR LLC grew its position in shares of Potbelly by 1,101.9% during 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. The Manufacturers Life Insurance Company bought a new position in shares of Potbelly during the second quarter worth approximately $86,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Potbelly in the third quarter valued at approximately $87,000. 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.