CenterStar Asset Management LLC Has $182,000 Stock Holdings in Portillo’s Inc. (NASDAQ:PTLO)

CenterStar Asset Management LLC decreased its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 63.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,500 shares of the company’s stock after selling 23,500 shares during the period. CenterStar Asset Management LLC’s holdings in Portillo’s were worth $182,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of Portillo’s during the 2nd quarter worth $29,000. Select Equity Group L.P. increased its stake in shares of Portillo’s by 2.6% during the 2nd quarter. Select Equity Group L.P. now owns 112,424 shares of the company’s stock worth $1,093,000 after purchasing an additional 2,897 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Portillo’s by 21.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,902 shares of the company’s stock worth $203,000 after purchasing an additional 3,661 shares during the last quarter. Millennium Management LLC increased its stake in shares of Portillo’s by 499.4% during the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock worth $3,812,000 after purchasing an additional 326,743 shares during the last quarter. Finally, Engaged Capital LLC boosted its holdings in shares of Portillo’s by 38.7% during the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after buying an additional 770,443 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

PTLO has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, July 12th. Stephens downgraded shares of Portillo’s from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a report on Monday, October 7th. Bank of America decreased their price objective on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Morgan Stanley decreased their price objective on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Portillo’s currently has an average rating of “Moderate Buy” and a consensus target price of $13.86.

Portillo’s Stock Performance

Portillo’s stock traded up $0.31 during mid-day trading on Friday, reaching $12.52. The company had a trading volume of 707,622 shares, compared to its average volume of 1,046,251. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60. Portillo’s Inc. has a 52 week low of $8.66 and a 52 week high of $16.98. The company has a 50 day moving average of $12.18 and a 200-day moving average of $11.28. The firm has a market cap of $913.65 million, a price-to-earnings ratio of 31.30, a PEG ratio of 15.49 and a beta of 1.78.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The company had revenue of $181.86 million during the quarter, compared to the consensus estimate of $184.44 million. During the same period last year, the company earned $0.12 earnings per share. Portillo’s’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that Portillo’s Inc. will post 0.28 EPS for the current fiscal year.

About Portillo’s

Portillo’s Inc owns and operates fast casual restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shake. It offers its products through its website, application, and certain third-party platforms.