Prelude Capital Management LLC Takes Position in Portillo’s Inc. (NASDAQ:PTLO)

Prelude Capital Management LLC acquired a new position in shares of Portillo’s Inc. (NASDAQ:PTLO – Get Rating) in the third quarter, HoldingsChannel reports. The fund acquired 18,824 shares of the company’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC bought a new stake in shares of Portillo’s in the 2nd quarter valued at about $47,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Portillo’s in the 3rd quarter valued at $85,000. Tower Research Capital LLC TRC raised its stake in Portillo’s by 461.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,683 shares of the company’s stock worth $92,000 after buying an additional 3,849 shares during the period. Royal Bank of Canada grew its stake in Portillo’s by 18.9% in the third quarter. Royal Bank of Canada now owns 5,374 shares of the company’s stock valued at $106,000 after acquiring an additional 853 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Portillo’s by 224.9% during the second quarter. Legal & General Group Plc now owns 7,444 shares of the company’s stock worth $121,000 after purchasing an additional 5,153 shares during the period. Institutional investors own 72.88% of the company’s stock.

Portillo’s Trading Down 1.2 %

PTLO opened at $18.89 on Tuesday. The stock has a market capitalization of $916.92 million, a P/E ratio of 75.56, a P/E/G ratio of 4.01 and a beta of 2.10. The company has a current ratio of 0.85, a quick ratio of 0.75 and a debt-to-equity ratio of 0.73. Portillo’s Inc. has a 12 month low of $14.84 and a 12 month high of $28.93. The firm’s fifty day simple moving average is $21.13 and its 200 day simple moving average is $20.79.

Portillo’s (NASDAQ:PTLO – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The company had revenue of $150.88 million for the quarter, compared to analyst estimates of $155.34 million. Portillo’s had a return on equity of 2.48% and a net margin of 1.85%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.52) earnings per share. As a group, research analysts anticipate that Portillo’s Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their price objective on Portillo’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd.

Portillo’s Company Profile

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Portillo's Inc owns and operates fast casual and quick service restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and milkshakes. As of June 26, 2022, it owned and operated 71 Portillo's restaurants across nine states.