Millennium Management LLC Sells 74,926 Shares of Potbelly Co. (NASDAQ:PBPB)

Millennium Management LLC lowered its holdings in shares of Potbelly Co. (NASDAQ:PBPB - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 399,870 shares of the company's stock after selling 74,926 shares during the period. Millennium Management LLC owned 1.34% of Potbelly worth $3,767,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in Potbelly by 4.4% during the 4th quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company's stock valued at $10,935,000 after purchasing an additional 49,000 shares during the last quarter. Portolan Capital Management LLC raised its holdings in Potbelly by 9.3% in the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company's stock valued at $9,291,000 after acquiring an additional 83,748 shares during the period. Geode Capital Management LLC raised its holdings in Potbelly by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 617,199 shares of the company's stock valued at $5,815,000 after acquiring an additional 8,863 shares during the period. Hodges Capital Management Inc. lifted its position in 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 acquiring an additional 159,900 shares during the last quarter. Finally, Monimus Capital Management LP bought a new stake in Potbelly in the 4th quarter valued at $4,901,000. Institutional investors and hedge funds own 72.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen cut Potbelly from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. William Blair reaffirmed a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and issued a $16.00 target price on shares of Potbelly in a research report on Friday, March 7th.

Insider Activity

In other news, major shareholder David Nierenberg purchased 22,169 shares of the business's stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost of $9.36 per share, with a total value 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 trade represents a 21.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 10.20% of the stock is owned by corporate insiders.

Potbelly Price Performance

Potbelly stock traded up $0.34 during mid-day trading on Wednesday, reaching $10.91. The company had a trading volume of 222,918 shares, compared to its average volume of 212,781. The business has a fifty day simple moving average of $9.21 and a 200 day simple moving average of $10.13. The company has a market cap of $329.18 million, a P/E ratio of 8.73 and a beta of 1.47. Potbelly Co. has a fifty-two week low of $6.28 and a fifty-two week high of $13.48. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06.

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.