Portillo’s Inc. (NASDAQ:PTLO) Shares Sold by Millrace Asset Group Inc.

Millrace Asset Group Inc. lessened its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 50.6% in the third quarter, Holdings Channel.com reports. The fund owned 46,170 shares of the company’s stock after selling 47,211 shares during the quarter. Millrace Asset Group Inc.’s holdings in Portillo’s were worth $622,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Portillo’s during the second quarter valued at $29,000. NBC Securities Inc. lifted its stake in Portillo’s by 43.5% during the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Portillo’s in the second quarter worth about $52,000. nVerses Capital LLC purchased a new position in shares of Portillo’s in the third quarter worth approximately $69,000. Finally, Fifth Third Bancorp raised its holdings in shares of Portillo’s by 283.0% during the second quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock valued at $127,000 after acquiring an additional 9,680 shares during the period. 98.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PTLO shares. UBS Group increased their target price on Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Stephens restated an “equal weight” rating and set a $13.00 price target on shares of Portillo’s in a report on Wednesday, November 6th. Finally, Stifel Nicolaus lowered shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.00.

Portillo’s Price Performance

NASDAQ PTLO opened at $11.30 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $838.69 million, a PE ratio of 26.90, a price-to-earnings-growth ratio of 12.85 and a beta of 1.78. Portillo’s Inc. has a 12-month low of $8.66 and a 12-month high of $16.92. The company has a 50 day moving average price of $12.56 and a two-hundred day moving average price of $11.23.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $178.25 million during the quarter, compared to analyst estimates of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, equities analysts predict that Portillo’s Inc. will post 0.29 earnings per share for the current fiscal 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.