Potbelly Co. (NASDAQ:PBPB) Shares Sold by Western Standard LLC

Western Standard LLC trimmed its position in shares of Potbelly Co. (NASDAQ:PBPB - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,973 shares of the company's stock after selling 70,796 shares during the quarter. Potbelly accounts for approximately 2.1% of Western Standard LLC's portfolio, making the stock its 17th largest holding. Western Standard LLC owned about 1.10% of Potbelly worth $3,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC purchased a new stake in Potbelly in the 4th quarter valued at approximately $27,000. State of Wyoming boosted its stake in shares of Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company's stock valued at $66,000 after buying an additional 876 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Potbelly in the fourth quarter valued at approximately $98,000. SG Americas Securities LLC acquired a new position in Potbelly during the fourth quarter worth $121,000. Finally, Wells Fargo & Company MN raised its position in Potbelly by 50.6% in the fourth quarter. Wells Fargo & Company MN now owns 12,883 shares of the company's stock worth $121,000 after acquiring an additional 4,328 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PBPB. Benchmark restated a "buy" rating and set a $16.00 target price on shares of Potbelly in a research report on Friday, March 7th. StockNews.com lowered Potbelly from a "buy" rating to a "hold" rating in a research note on Friday. Finally, William Blair reaffirmed a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th.

Potbelly Price Performance

Shares of NASDAQ PBPB opened at $10.18 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $8.98 and its 200 day moving average price is $10.06. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48. The stock has a market cap of $307.15 million, a price-to-earnings ratio of 8.14 and a beta of 1.47.

Insider Buying and Selling at Potbelly

In related news, major shareholder David Nierenberg acquired 22,169 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average cost of $9.36 per share, for a total transaction of $207,501.84. Following the transaction, the insider now directly owns 124,167 shares of the company's stock, valued at approximately $1,162,203.12. This trade represents a 21.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.

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