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.
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
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.
- Get a free copy of the StockNews.com research report on Portillo’s (PTLO)
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