Formula Growth Ltd. Sells 25,000 Shares of Portillo's Inc. (NASDAQ:PTLO)

Formula Growth Ltd. reduced its stake in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,000 shares of the company's stock after selling 25,000 shares during the period. Formula Growth Ltd. owned about 0.06% of Portillo's worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hodges Capital Management Inc. raised its holdings in Portillo's by 80.5% in the 4th quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company's stock valued at $15,537,000 after buying an additional 737,049 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Portillo's during the fourth quarter worth $2,590,000. Landscape Capital Management L.L.C. bought a new stake in shares of Portillo's in the fourth quarter worth $2,623,000. First Eagle Investment Management LLC acquired a new stake in Portillo's in the fourth quarter valued at $2,577,000. Finally, Principal Financial Group Inc. raised its position in Portillo's by 10.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company's stock worth $24,086,000 after purchasing an additional 175,999 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PTLO shares. Morgan Stanley set a $12.00 price objective on Portillo's in a research report on Monday, April 14th. Stephens boosted their target price on shares of Portillo's from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Baird R W lowered Portillo's from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Finally, UBS Group cut their price target on Portillo's from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.71.

Portillo's Stock Down 5.7 %

PTLO traded down $0.66 during mid-day trading on Monday, reaching $10.87. 2,495,832 shares of the stock were exchanged, compared to its average volume of 1,357,067. Portillo's Inc. has a 1 year low of $8.38 and a 1 year high of $15.78. The stock has a market capitalization of $810.93 million, a PE ratio of 25.88, a price-to-earnings-growth ratio of 14.77 and a beta of 1.82. The company has a 50 day moving average price of $12.82 and a two-hundred day moving average price of $12.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.15. The firm had revenue of $184.61 million during the quarter, compared to the consensus estimate of $185.16 million. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. As a group, research analysts anticipate that Portillo's Inc. will post 0.35 EPS for the current year.

About Portillo's

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.