Russell Investments Group Ltd. Lowers Holdings in Potbelly Co. (NASDAQ:PBPB)

Russell Investments Group Ltd. trimmed its position in shares of Potbelly Co. (NASDAQ:PBPB) by 5.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 305,142 shares of the company’s stock after selling 18,924 shares during the quarter. Russell Investments Group Ltd.’s holdings in Potbelly were worth $2,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Monimus Capital Management LP purchased a new stake in shares of Potbelly during the fourth quarter valued at approximately $4,901,000. Vantage Consulting Group Inc bought a new stake in shares of Potbelly in the 4th quarter worth $1,553,000. Hodges Capital Management Inc. raised its stake in shares of Potbelly by 42.1% in the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock worth $5,086,000 after purchasing an additional 159,900 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Potbelly by 139.3% during the fourth quarter. American Century Companies Inc. now owns 147,147 shares of the company’s stock valued at $1,386,000 after purchasing an additional 85,651 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Potbelly in the 4th quarter worth about $520,000. 72.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Potbelly

In other Potbelly news, major shareholder David Nierenberg purchased 22,169 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were acquired at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PBPB has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $16.00 target price on shares of Potbelly in a research note on Friday, March 7th. William Blair restated a “market perform” rating on shares of Potbelly in a research report on Thursday, March 20th. Finally, StockNews.com cut shares of Potbelly from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Potbelly Price Performance

Shares of NASDAQ:PBPB opened at $8.01 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $241.68 million, a PE ratio of 6.41 and a beta of 1.38. The firm’s 50 day moving average price is $10.24 and its 200-day moving average price is $9.90. Potbelly Co. has a twelve month low of $6.28 and a twelve month high of $13.48.

About Potbelly

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.