Bank of America Corp DE Grows Stock Position in Potbelly Co. (NASDAQ:PBPB)

Bank of America Corp DE raised its holdings in shares of Potbelly Co. (NASDAQ:PBPB) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,491 shares of the company’s stock after acquiring an additional 2,418 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Potbelly worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new stake in shares of Potbelly in the fourth quarter valued at approximately $27,000. Price T Rowe Associates Inc. MD purchased a new stake in Potbelly in the 4th quarter valued at approximately $98,000. Wells Fargo & Company MN grew its holdings in Potbelly by 50.6% during the 4th quarter. Wells Fargo & Company MN now owns 12,883 shares of the company’s stock valued at $121,000 after buying an additional 4,328 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Potbelly by 28.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,400 shares of the company’s stock worth $124,000 after buying an additional 3,000 shares in the last quarter. Finally, LPL Financial LLC increased its position in Potbelly by 50.8% during the fourth quarter. LPL Financial LLC now owns 19,610 shares of the company’s stock worth $185,000 after buying an additional 6,610 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PBPB shares. William Blair restated a “market perform” rating on shares of Potbelly in a research report on Thursday, March 20th. Wall Street Zen lowered shares of Potbelly from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Finally, Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Potbelly in a report on Friday, March 7th.

Potbelly Price Performance

PBPB stock opened at $10.86 on Friday. The stock has a market capitalization of $327.67 million, a price-to-earnings ratio of 8.69 and a beta of 1.68. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. Potbelly Co. has a 52-week low of $6.28 and a 52-week high of $13.48. The stock’s fifty day simple moving average is $9.46 and its 200-day simple moving average is $10.18.

Insider Buying and Selling

In related news, major shareholder David Nierenberg purchased 22,169 shares of the business’s stock in a transaction on Friday, March 28th. The shares were bought at an average price of $9.36 per share, with a total value of $207,501.84. Following the completion of the purchase, the insider now directly owns 124,167 shares in the company, valued at approximately $1,162,203.12. This trade represents a 21.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.20% of the company’s stock.

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.