Granahan Investment Management LLC Sells 739,427 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Granahan Investment Management LLC lowered its position in Portillo’s Inc. (NASDAQ:PTLO) by 66.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 372,745 shares of the company’s stock after selling 739,427 shares during the quarter. Granahan Investment Management LLC’s holdings in Portillo’s were worth $3,504,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Hollencrest Capital Management lifted its holdings in Portillo’s by 100.0% in the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $38,000 after purchasing an additional 2,000 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Portillo’s by 5.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 43,032 shares of the company’s stock worth $405,000 after acquiring an additional 2,038 shares during the last quarter. Lakewood Asset Management LLC grew its stake in Portillo’s by 2.2% during the fourth quarter. Lakewood Asset Management LLC now owns 104,638 shares of the company’s stock valued at $984,000 after acquiring an additional 2,251 shares in the last quarter. Stoneridge Investment Partners LLC increased its holdings in Portillo’s by 23.5% in the 4th quarter. Stoneridge Investment Partners LLC now owns 12,605 shares of the company’s stock valued at $118,000 after acquiring an additional 2,396 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Portillo’s by 3.5% in the 4th quarter. Rhumbline Advisers now owns 80,861 shares of the company’s stock worth $760,000 after purchasing an additional 2,741 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PTLO. Stifel Nicolaus lifted their target price on Portillo’s from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Stephens reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a report on Wednesday. Robert W. Baird reiterated a “neutral” rating and set a $12.00 target price (down from $15.00) on shares of Portillo’s in a research report on Monday, April 7th. UBS Group reduced their price target on shares of Portillo’s from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley set a $12.00 price objective on shares of Portillo’s in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.71.

Portillo’s Stock Down 1.6 %

Shares of PTLO opened at $11.24 on Friday. 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 business has a fifty day moving average of $11.78 and a 200 day moving average of $11.88. The company has a market cap of $838.54 million, a PE ratio of 26.76, a P/E/G ratio of 14.77 and a beta of 1.83. Portillo’s Inc. has a 52-week low of $8.38 and a 52-week high of $15.78.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm had revenue of $176.44 million during the quarter, compared to analyst estimates of $180.76 million. During the same quarter last year, the business earned $0.08 EPS. The business’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts expect that Portillo’s Inc. will post 0.35 EPS 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.