Renaissance Technologies LLC Has $834,000 Stake in Portillo’s Inc. $PTLO

Renaissance Technologies LLC trimmed its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 86.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,697 shares of the company’s stock after selling 1,047,200 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Portillo’s worth $834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC increased its stake in shares of Portillo’s by 37.6% in the fourth quarter. CWM LLC now owns 7,216 shares of the company’s stock worth $33,000 after purchasing an additional 1,973 shares during the period. Quadrant Capital Group LLC bought a new stake in Portillo’s during the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new stake in Portillo’s during the 4th quarter valued at approximately $40,000. Allworth Financial LP grew its holdings in Portillo’s by 235.3% in the 4th quarter. Allworth Financial LP now owns 9,243 shares of the company’s stock valued at $42,000 after buying an additional 6,486 shares during the last quarter. Finally, Mariner LLC acquired a new stake in Portillo’s in the 4th quarter valued at approximately $50,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PTLO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Portillo’s in a research report on Monday, August 3rd. Piper Sandler lowered their price objective on shares of Portillo’s from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Stephens reaffirmed an “equal weight” rating and set a $5.00 target price on shares of Portillo’s in a research report on Thursday, August 6th. Roth Capital set a $8.00 target price on shares of Portillo’s in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus cut their target price on shares of Portillo’s from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Two research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.92.

Portillo’s Stock Up 2.6%

Shares of PTLO opened at $5.16 on Friday. The stock has a market cap of $391.85 million, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.11 and a beta of 1.56. The company has a quick ratio of 0.20, a current ratio of 0.26 and a debt-to-equity ratio of 0.46. Portillo’s Inc. has a 12 month low of $3.78 and a 12 month high of $7.80. The company has a 50-day moving average price of $4.54 and a two-hundred day moving average price of $4.99.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Portillo’s had a return on equity of 2.78% and a net margin of 1.85%.The company had revenue of $198.95 million for the quarter, compared to analyst estimates of $199.22 million. During the same period in the prior year, the company posted $0.12 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Portillo’s Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eugene I. Lee, Jr. acquired 65,355 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $4.59 per share, for a total transaction of $299,979.45. Following the completion of the purchase, the director directly owned 551,770 shares of the company’s stock, valued at $2,532,624.30. The trade was a 13.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.34% of the stock is owned by company insiders.

Portillo’s Profile

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.