Squarepoint Ops LLC Purchases 394,479 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Squarepoint Ops LLC lifted its position in Portillo’s Inc. (NASDAQ:PTLO) by 307.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 522,580 shares of the company’s stock after purchasing an additional 394,479 shares during the period. Squarepoint Ops LLC owned about 0.72% of Portillo’s worth $5,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in Portillo’s in the 2nd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Portillo’s by 241.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock valued at $54,000 after buying an additional 2,694 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of Portillo’s in the second quarter worth $52,000. Price T Rowe Associates Inc. MD boosted its position in shares of Portillo’s by 17.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock worth $184,000 after acquiring an additional 1,917 shares during the last quarter. Finally, Ascent Group LLC grew its stake in Portillo’s by 8.3% during the first quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock valued at $186,000 after acquiring an additional 1,000 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PTLO has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price objective on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Stephens reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Portillo’s in a research note on Tuesday, August 6th. Piper Sandler lowered their target price on Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Morgan Stanley reduced their price target on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Bank of America lowered their price objective on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Portillo’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Portillo’s Stock Up 2.0 %

NASDAQ PTLO opened at $13.47 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60. Portillo’s Inc. has a 52 week low of $8.66 and a 52 week high of $16.98. The firm has a market capitalization of $982.97 million, a price-to-earnings ratio of 33.68, a PEG ratio of 16.39 and a beta of 1.77. The company has a fifty day moving average of $11.60 and a two-hundred day moving average of $11.31.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Portillo’s had a return on equity of 5.08% and a net margin of 3.30%. The firm had revenue of $181.86 million for the quarter, compared to analysts’ expectations of $184.44 million. During the same period in the prior year, the firm posted $0.12 earnings per share. Portillo’s’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that Portillo’s Inc. will post 0.28 earnings per share for the current year.

Portillo’s Profile

Portillo’s Inc owns and operates fast casual restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shake. It offers its products through its website, application, and certain third-party platforms.