Boothbay Fund Management LLC Has $862,000 Stock Position in Potbelly Co. (NASDAQ:PBPB)

Boothbay Fund Management LLC reduced its position in Potbelly Co. (NASDAQ:PBPB) by 42.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,559 shares of the company’s stock after selling 67,766 shares during the period. Boothbay Fund Management LLC owned about 0.31% of Potbelly worth $862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC grew its position in Potbelly by 4.4% in the fourth quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company’s stock worth $10,935,000 after acquiring an additional 49,000 shares in the last quarter. Portolan Capital Management LLC boosted its holdings in Potbelly by 9.3% in the fourth quarter. Portolan Capital Management LLC now owns 986,277 shares of the company’s stock worth $9,291,000 after purchasing an additional 83,748 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Potbelly by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 617,199 shares of the company’s stock worth $5,815,000 after purchasing an additional 8,863 shares in the last quarter. Hodges Capital Management Inc. increased 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 buying an additional 159,900 shares during the last quarter. Finally, Monimus Capital Management LP bought a new position in Potbelly during the fourth quarter valued at about $4,901,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Potbelly Price Performance

NASDAQ PBPB opened at $8.07 on Wednesday. The stock has a market capitalization of $243.49 million, a PE ratio of 6.46 and a beta of 1.38. The stock has a 50-day simple moving average of $9.52 and a 200 day simple moving average of $9.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. Potbelly Co. has a twelve month low of $6.28 and a twelve month high of $13.48.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PBPB. Benchmark reissued a “buy” rating and set a $16.00 price objective on shares of Potbelly in a report on Friday, March 7th. William Blair reiterated a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. Finally, StockNews.com cut shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

Insider Transactions at Potbelly

In related news, major shareholder David Nierenberg acquired 22,169 shares of the 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 completion of the purchase, the insider now owns 124,167 shares in the company, valued at approximately $1,162,203.12. The trade was a 21.73 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.