Squarepoint Ops LLC Grows Stock Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Squarepoint Ops LLC lifted its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 307.9% during the second quarter, HoldingsChannel.com reports. The fund owned 522,580 shares of the company’s stock after buying an additional 394,479 shares during the quarter. Squarepoint Ops LLC’s holdings in Portillo’s were worth $5,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ascent Group LLC lifted its stake in Portillo’s by 8.3% in the first quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock worth $186,000 after acquiring an additional 1,000 shares during the period. Mesirow Financial Investment Management Inc. increased its position in Portillo’s by 7.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company’s stock valued at $220,000 after purchasing an additional 1,555 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Portillo’s by 17.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock valued at $184,000 after purchasing an additional 1,917 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position 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 purchasing an additional 2,694 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Portillo’s during the second quarter valued at approximately $29,000. Institutional investors own 98.34% of the company’s stock.

Portillo’s Price Performance

NASDAQ:PTLO opened at $13.47 on Tuesday. The firm’s fifty day moving average is $11.60 and its two-hundred day moving average is $11.31. The firm has a market cap of $982.97 million, a price-to-earnings ratio of 33.68, a PEG ratio of 16.39 and a beta of 1.77. Portillo’s Inc. has a one year low of $8.66 and a one year high of $16.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 0.38.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Portillo’s had a return on equity of 5.08% and a net margin of 3.30%. The company had revenue of $181.86 million for the quarter, compared to analyst estimates of $184.44 million. During the same period last year, the business earned $0.12 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Research analysts expect that Portillo’s Inc. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PTLO. Stifel Nicolaus reduced their price objective 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. Morgan Stanley reduced their price target on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Bank of America dropped their price objective on Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Stephens reiterated an “overweight” rating and issued a $13.00 target price on shares of Portillo’s in a report on Tuesday, August 6th. Finally, Piper Sandler lowered their price target on shares of Portillo’s from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Two 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

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.