Potbelly Co. (NASDAQ:PBPB) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in Potbelly Co. (NASDAQ:PBPB) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,841 shares of the company’s stock after selling 21,797 shares during the period. Two Sigma Investments LP owned about 0.15% of Potbelly worth $422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aquatic Capital Management LLC acquired a new position in shares of Potbelly during the fourth quarter worth about $27,000. State of Wyoming boosted its position in Potbelly by 14.3% during the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock worth $66,000 after acquiring an additional 876 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Potbelly during the fourth quarter worth approximately $98,000. SG Americas Securities LLC purchased a new position in Potbelly during the fourth quarter worth approximately $121,000. Finally, Wells Fargo & Company MN raised its stake in Potbelly by 50.6% during the fourth quarter. Wells Fargo & Company MN now owns 12,883 shares of the company’s stock worth $121,000 after purchasing an additional 4,328 shares during the period. 72.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Potbelly

In other news, major shareholder David Nierenberg acquired 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 completion of the purchase, the insider now owns 124,167 shares of the company’s stock, valued at $1,162,203.12. This represents a 21.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

PBPB has been the topic of several analyst reports. William Blair reaffirmed a “market perform” rating on shares of Potbelly in a research note on Thursday, March 20th. Wall Street Zen downgraded shares of Potbelly from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Stock Performance

Shares of PBPB opened at $11.28 on Tuesday. 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 company has a market capitalization of $340.34 million, a PE ratio of 9.02 and a beta of 1.68. The company’s 50 day moving average price is $9.29 and its 200 day moving average price is $10.16. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48.

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.