Portillo’s Inc. (NASDAQ:PTLO) Shares Sold by CenterStar Asset Management LLC

CenterStar Asset Management LLC trimmed its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 63.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,500 shares of the company’s stock after selling 23,500 shares during the period. CenterStar Asset Management LLC’s holdings in Portillo’s were worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of Portillo’s in the 2nd quarter worth approximately $29,000. AdvisorShares Investments LLC acquired a new stake in shares of Portillo’s in the 2nd quarter worth approximately $52,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Portillo’s by 241.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock worth $54,000 after acquiring an additional 2,694 shares during the period. Fifth Third Bancorp lifted its stake in shares of Portillo’s by 283.0% in the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock worth $127,000 after acquiring an additional 9,680 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Portillo’s by 24.9% in the 2nd quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock worth $159,000 after acquiring an additional 3,261 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PTLO shares. Bank of America reduced their price target on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Stephens lowered shares of Portillo’s from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research note on Monday, October 7th. Morgan Stanley cut their target price on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus cut their target price on shares of Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Portillo’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.86.

Portillo’s Trading Up 2.5 %

Shares of NASDAQ:PTLO traded up $0.31 during mid-day trading on Friday, hitting $12.52. The stock had a trading volume of 707,622 shares, compared to its average volume of 1,046,251. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 0.38. The company has a market cap of $913.65 million, a PE ratio of 31.30, a P/E/G ratio of 15.49 and a beta of 1.78. Portillo’s Inc. has a 12-month low of $8.66 and a 12-month high of $16.98. The company’s 50 day moving average is $12.18 and its 200-day moving average is $11.28.

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

Portillo’s Company 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.