CenterStar Asset Management LLC Raises Stake in Portillo's Inc. (NASDAQ:PTLO)

CenterStar Asset Management LLC raised its holdings in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 348.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,529 shares of the company's stock after buying an additional 47,029 shares during the quarter. Portillo's accounts for 0.2% of CenterStar Asset Management LLC's investment portfolio, making the stock its 13th largest holding. CenterStar Asset Management LLC owned about 0.08% of Portillo's worth $568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. increased its holdings in shares of 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 acquiring an additional 1,000 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Portillo's during the fourth quarter worth about $47,000. nVerses Capital LLC purchased a new stake in shares of Portillo's in the third quarter worth approximately $69,000. Sonora Investment Management Group LLC bought a new position in Portillo's during the 4th quarter valued at $98,000. Finally, Perfromance Wealth Partners LLC bought a new stake in shares of Portillo's in the 4th quarter worth $145,000. 98.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. UBS Group reduced their target price on Portillo's from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus upgraded Portillo's from a "hold" rating to a "buy" rating and lifted their price target for the stock from $13.00 to $16.00 in a report on Monday, January 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $14.00.

Portillo's Stock Performance

PTLO traded down $0.12 on Friday, hitting $14.50. The company's stock had a trading volume of 950,895 shares, compared to its average volume of 1,773,836. The firm has a market cap of $1.08 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 14.26 and a beta of 1.81. Portillo's Inc. has a 12 month low of $8.38 and a 12 month high of $16.17. 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 company's 50 day simple moving average is $10.88 and its 200-day simple moving average is $11.58.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $178.25 million for the quarter, compared to analysts' expectations of $182.07 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. Analysts forecast that Portillo's Inc. will post 0.35 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.