Portillo’s Inc. $PTLO Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in Portillo’s Inc. (NASDAQ:PTLO) by 77.5% in the third quarter, HoldingsChannel reports. The fund owned 69,249 shares of the company’s stock after selling 237,985 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Portillo’s were worth $447,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Portillo’s by 135.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,596 shares of the company’s stock valued at $30,000 after purchasing an additional 1,495 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Portillo’s during the 2nd quarter worth approximately $32,000. CWM LLC increased its holdings in Portillo’s by 84.5% in the 3rd quarter. CWM LLC now owns 5,243 shares of the company’s stock worth $34,000 after acquiring an additional 2,401 shares in the last quarter. BNP Paribas Financial Markets raised its position in Portillo’s by 69.6% during the second quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock worth $63,000 after acquiring an additional 2,227 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Portillo’s by 336.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,135 shares of the company’s stock valued at $95,000 after purchasing an additional 6,271 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PTLO. Piper Sandler upped their price target on shares of Portillo’s from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Stifel Nicolaus restated a “hold” rating and issued a $6.00 target price (down previously from $8.00) on shares of Portillo’s in a research report on Wednesday, January 7th. UBS Group lowered their price target on Portillo’s from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 6th. Bank of America reaffirmed a “neutral” rating and set a $7.00 target price (down previously from $14.00) on shares of Portillo’s in a research note on Monday, October 6th. Finally, Stephens reduced their target price on shares of Portillo’s from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.72.

Portillo’s Stock Down 4.4%

Shares of NASDAQ:PTLO opened at $5.63 on Thursday. Portillo’s Inc. has a 52-week low of $4.41 and a 52-week high of $15.78. The stock has a market cap of $424.39 million, a P/E ratio of 15.64, a PEG ratio of 7.74 and a beta of 1.74. The business has a fifty day moving average of $5.02 and a two-hundred day moving average of $6.31. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.49.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Portillo’s had a net margin of 3.35% and a return on equity of 4.99%. The firm had revenue of $181.43 million for the quarter, compared to analyst estimates of $179.77 million. On average, research analysts expect that Portillo’s Inc. will post 0.35 earnings per share for the current year.

About Portillo’s

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.