Cubist Systematic Strategies LLC Purchases Shares of 49,976 Potbelly Co. (NASDAQ:PBPB)

Cubist Systematic Strategies LLC bought a new position in shares of Potbelly Co. (NASDAQ:PBPB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 49,976 shares of the company's stock, valued at approximately $471,000. Cubist Systematic Strategies LLC owned approximately 0.17% of Potbelly at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PBPB. Barclays PLC lifted its position in shares of Potbelly by 247.8% during the third quarter. Barclays PLC now owns 39,780 shares of the company's stock worth $332,000 after purchasing an additional 28,342 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Potbelly by 122.6% during the third quarter. JPMorgan Chase & Co. now owns 67,053 shares of the company's stock worth $559,000 after buying an additional 36,930 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Potbelly during the fourth quarter worth approximately $121,000. Hodges Capital Management Inc. raised its stake in shares of Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company's stock worth $5,086,000 after buying an additional 159,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 during the last quarter. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder David Nierenberg purchased 22,169 shares of Potbelly stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the completion of the acquisition, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.20% of the company's stock.

Analyst Upgrades and Downgrades

PBPB has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Potbelly from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Benchmark reaffirmed a "buy" rating and issued a $16.00 target price on shares of Potbelly in a research note on Friday, March 7th. Finally, William Blair reaffirmed a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th.

Potbelly Stock Up 0.7%

Shares of Potbelly stock traded up $0.07 on Thursday, hitting $10.08. The company had a trading volume of 14,289 shares, compared to its average volume of 213,663. The firm has a market capitalization of $304.13 million, a P/E ratio of 8.01 and a beta of 1.47. Potbelly Co. has a twelve month low of $6.28 and a twelve month high of $13.48. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. The stock has a 50-day moving average of $9.01 and a 200-day moving average of $10.06.

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.