Emerald Advisers LLC Acquires 41,078 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Emerald Advisers LLC raised its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 983,539 shares of the company’s stock after buying an additional 41,078 shares during the quarter. Emerald Advisers LLC owned about 1.35% of Portillo’s worth $9,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PTLO. Vanguard Group Inc. grew its holdings in shares of Portillo’s by 14.9% during the first quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company’s stock worth $76,604,000 after purchasing an additional 700,583 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Portillo’s by 2.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,612,114 shares of the company’s stock worth $15,670,000 after buying an additional 39,466 shares during the last quarter. Granahan Investment Management LLC increased its holdings in shares of Portillo’s by 33.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after buying an additional 334,731 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Portillo’s by 2.6% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 804,644 shares of the company’s stock valued at $7,821,000 after buying an additional 20,195 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Portillo’s by 3.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 576,865 shares of the company’s stock worth $8,180,000 after acquiring an additional 18,451 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PTLO has been the topic of a number of research analyst reports. Piper Sandler lowered their price target on Portillo’s from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Morgan Stanley reduced their price objective on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Stifel Nicolaus cut their target price on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Bank of America reduced their price target on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Stephens restated an “overweight” rating and issued a $13.00 price objective on shares of Portillo’s in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Portillo’s Stock Performance

NASDAQ:PTLO opened at $11.73 on Friday. 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 Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $17.34. The firm has a market cap of $856.00 million, a PE ratio of 29.33, a price-to-earnings-growth ratio of 15.10 and a beta of 1.77. The business has a 50 day moving average price of $10.59 and a 200-day moving average price of $11.46.

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