Cambridge Investment Research Advisors Inc. Has $185,000 Stake in Portillo’s Inc. (NASDAQ:PTLO)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,529 shares of the company’s stock after selling 4,919 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Portillo’s were worth $185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Portillo’s by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 185,025 shares of the company’s stock worth $1,739,000 after purchasing an additional 10,233 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Portillo’s by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,262 shares of the company’s stock valued at $4,345,000 after acquiring an additional 3,845 shares during the period. Victory Capital Management Inc. grew its position in shares of Portillo’s by 6.1% in the 4th quarter. Victory Capital Management Inc. now owns 83,606 shares of the company’s stock valued at $786,000 after acquiring an additional 4,840 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Portillo’s during the 4th quarter worth about $1,331,000. Finally, AlphaQuest LLC boosted its holdings in shares of Portillo’s by 120.1% during the 4th quarter. AlphaQuest LLC now owns 18,521 shares of the company’s stock worth $174,000 after buying an additional 10,105 shares during the period. 98.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PTLO has been the subject of a number of recent research reports. William Blair reissued an “outperform” rating on shares of Portillo’s in a report on Friday, May 30th. Stephens reaffirmed an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a research note on Wednesday, May 7th. Baird R W cut shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Guggenheim reduced their price objective on shares of Portillo’s from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, July 8th. Finally, Morgan Stanley set a $12.00 price objective on shares of Portillo’s in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

Portillo’s Stock Performance

Shares of PTLO stock opened at $11.41 on Tuesday. The stock has a market capitalization of $853.64 million, a P/E ratio of 26.54, a PEG ratio of 8.80 and a beta of 1.83. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $11.76 and its 200 day moving average is $12.12. Portillo’s Inc. has a 12 month low of $8.38 and a 12 month high of $15.78.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $176.44 million for the quarter, compared to analyst estimates of $180.76 million. Portillo’s had a net margin of 3.92% and a return on equity of 5.87%. Portillo’s’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, sell-side analysts anticipate that Portillo’s Inc. will post 0.35 earnings per share for the current year.

Insider Activity at Portillo’s

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $12.23, for a total value of $122,300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.14% of the stock is owned by insiders.

About Portillo’s

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.