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

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

Other hedge funds also recently modified their holdings of the company. First National Bank Sioux Falls bought a new stake in Portillo’s during the 1st quarter worth approximately $56,000. Alpine Global Management LLC bought a new position in Portillo’s in the 4th quarter valued at $89,000. Aristides Capital LLC bought a new position in Portillo’s in the 4th quarter valued at $197,000. AXQ Capital LP acquired a new position in Portillo’s in the fourth quarter worth $199,000. Finally, ProShare Advisors LLC boosted its stake in Portillo’s by 20.1% in the fourth quarter. ProShare Advisors LLC now owns 12,188 shares of the company’s stock worth $55,000 after purchasing an additional 2,043 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Portillo’s in a report on Monday, August 3rd. Stephens reiterated an “equal weight” rating and set a $5.00 price target on shares of Portillo’s in a research report on Thursday, August 6th. Robert W. Baird set a $5.25 price objective on shares of Portillo’s in a report on Wednesday, May 6th. Stifel Nicolaus lowered their price objective on shares of Portillo’s from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, Piper Sandler dropped their target price on shares of Portillo’s from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Portillo’s currently has a consensus rating of “Hold” and an average price target of $5.92.

Insider Activity at Portillo’s

In related news, Director Eugene I. Lee, Jr. acquired 65,355 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $4.59 per share, for a total transaction of $299,979.45. Following the completion of the acquisition, the director owned 551,770 shares of the company’s stock, valued at $2,532,624.30. This trade represents a 13.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.34% of the stock is currently owned by company insiders.

Portillo’s Price Performance

Shares of PTLO stock opened at $5.16 on Friday. The firm’s 50 day moving average price is $4.54 and its two-hundred day moving average price is $4.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.20 and a current ratio of 0.26. Portillo’s Inc. has a 52-week low of $3.78 and a 52-week high of $7.80. The stock has a market cap of $391.85 million, a PE ratio of 28.67, a PEG ratio of 1.11 and a beta of 1.56.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $198.95 million during the quarter, compared to analysts’ expectations of $199.22 million. Portillo’s had a net margin of 1.85% and a return on equity of 2.78%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, analysts forecast that Portillo’s Inc. will post 0.19 EPS for the current year.

Portillo’s Company 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.