UBS Group AG cut its position in shares of Portillo’s Inc. (NASDAQ:PTLO – Free Report) by 38.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 597,464 shares of the company’s stock after selling 376,970 shares during the period. UBS Group AG’s holdings in Portillo’s were worth $2,712,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. State of Wyoming increased its position in shares of Portillo’s by 176.6% during the 3rd quarter. State of Wyoming now owns 4,531 shares of the company’s stock valued at $29,000 after purchasing an additional 2,893 shares during the last quarter. CWM LLC increased its position in shares of Portillo’s by 37.6% during the 4th quarter. CWM LLC now owns 7,216 shares of the company’s stock valued at $33,000 after purchasing an additional 1,973 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Portillo’s by 5,110.6% during the 4th quarter. GAMMA Investing LLC now owns 8,858 shares of the company’s stock valued at $40,000 after purchasing an additional 8,688 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of Portillo’s during the 4th quarter valued at about $58,000. Finally, Jones Financial Companies Lllp increased its position in shares of Portillo’s by 33.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,203 shares of the company’s stock valued at $58,000 after purchasing an additional 2,318 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Portillo’s news, Director Eugene I. Lee, Jr. acquired 70,165 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $4.28 per share, for a total transaction of $300,306.20. Following the acquisition, the director owned 486,415 shares in the company, valued at $2,081,856.20. This represents a 16.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.34% of the company’s stock.
Portillo’s Trading Down 1.2%
Portillo’s (NASDAQ:PTLO – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Portillo’s had a return on equity of 3.17% and a net margin of 2.12%.The business had revenue of $182.62 million during the quarter, compared to analysts’ expectations of $183.27 million. During the same quarter last year, the business posted $0.05 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Portillo’s Inc. will post 0.22 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on Portillo’s from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings lowered Portillo’s from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. DA Davidson assumed coverage on Portillo’s in a research report on Friday, March 6th. They set a “neutral” rating and a $5.50 price objective on the stock. Wolfe Research assumed coverage on Portillo’s in a research report on Monday, March 9th. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus reduced their price objective on Portillo’s from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.02.
View Our Latest Stock Report on Portillo’s
About Portillo’s
Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.
The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.
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