Oppenheimer Asset Management Inc. Has $155,000 Stake in Potbelly Co. (NASDAQ:PBPB)

Oppenheimer Asset Management Inc. reduced its position in shares of Potbelly Co. (NASDAQ:PBPB) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,472 shares of the company’s stock after selling 1,251 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of Potbelly worth $155,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. GSA Capital Partners LLP grew its position in Potbelly by 8.0% during the third quarter. GSA Capital Partners LLP now owns 94,765 shares of the company’s stock valued at $790,000 after purchasing an additional 6,997 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Potbelly by 51.9% during the 3rd quarter. Victory Capital Management Inc. now owns 101,039 shares of the company’s stock valued at $843,000 after acquiring an additional 34,539 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Potbelly during the 3rd quarter valued at $2,332,000. FMR LLC increased its stake in shares of Potbelly by 1,101.9% in the third quarter. FMR LLC now owns 8,678 shares of the company’s stock worth $72,000 after acquiring an additional 7,956 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Potbelly by 177.2% during the third quarter. BNP Paribas Financial Markets now owns 34,978 shares of the company’s stock valued at $292,000 after purchasing an additional 22,359 shares during the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Potbelly Trading Down 18.2 %

Potbelly stock opened at $9.66 on Friday. Potbelly Co. has a 52 week low of $6.28 and a 52 week high of $13.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The firm has a market capitalization of $289.19 million, a PE ratio of 7.73 and a beta of 1.50. The business’s 50-day simple moving average is $11.43 and its 200-day simple moving average is $9.66.

Insider Activity at Potbelly

In related news, major shareholder David Nierenberg acquired 7,600 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average cost of $9.23 per share, with a total value of $70,148.00. Following the completion of the acquisition, the insider now owns 101,998 shares of the company’s stock, valued at $941,441.54. This trade represents a 8.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PBPB has been the topic of a number of research reports. William Blair restated a “market perform” rating on shares of Potbelly in a report on Friday. Benchmark reissued a “buy” rating and issued a $16.00 target price on shares of Potbelly in a research report on Friday.

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.