Squarepoint Ops LLC Sells 35,699 Shares of Potbelly Co. (NASDAQ:PBPB)

Squarepoint Ops LLC lowered its stake in shares of Potbelly Co. (NASDAQ:PBPB - Free Report) by 78.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,040 shares of the company's stock after selling 35,699 shares during the period. Squarepoint Ops LLC's holdings in Potbelly were worth $95,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PBPB. Portolan Capital Management LLC lifted its stake in shares of 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 purchasing an additional 83,748 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Potbelly in the 4th quarter valued at $520,000. JPMorgan Chase & Co. lifted its stake in shares of Potbelly by 46.3% in the 4th quarter. JPMorgan Chase & Co. now owns 98,124 shares of the company's stock valued at $924,000 after purchasing an additional 31,071 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Potbelly in the 4th quarter valued at $121,000. Finally, Deutsche Bank AG lifted its stake in shares of Potbelly by 35.8% in the 4th quarter. Deutsche Bank AG now owns 24,997 shares of the company's stock valued at $235,000 after purchasing an additional 6,594 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company's stock.

Insider Buying and Selling

In other news, major shareholder David Nierenberg bought 22,169 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the acquisition, the insider now directly owns 124,167 shares of the company's stock, valued at $1,162,203.12. The trade was a 21.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.20% of the company's stock.

Potbelly Stock Performance

PBPB traded down $0.18 during trading on Friday, hitting $10.86. The stock had a trading volume of 129,021 shares, compared to its average volume of 211,643. The firm has a market cap of $327.67 million, a PE ratio of 8.69 and a beta of 1.68. Potbelly Co. has a 12 month low of $6.28 and a 12 month 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. The company has a 50 day simple moving average of $9.41 and a 200-day simple moving average of $10.17.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PBPB. Wall Street Zen lowered shares of Potbelly from a "buy" rating to a "hold" rating in a research note 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 reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Potbelly in a research note on Friday, March 7th.

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.