Portillo’s Inc. (NASDAQ:PTLO) Shares Sold by Millrace Asset Group Inc.

Millrace Asset Group Inc. trimmed its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 50.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,170 shares of the company’s stock after selling 47,211 shares during the quarter. Millrace Asset Group Inc. owned about 0.06% of Portillo’s worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in Portillo’s in the second quarter worth $29,000. NBC Securities Inc. grew its position in shares of Portillo’s by 43.5% during the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of Portillo’s in the 2nd quarter worth about $52,000. nVerses Capital LLC bought a new stake in Portillo’s in the 3rd quarter valued at about $69,000. Finally, Fifth Third Bancorp boosted its stake in Portillo’s by 283.0% during the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock valued at $127,000 after purchasing an additional 9,680 shares during the period. Institutional investors own 98.34% of the company’s stock.

Portillo’s Price Performance

NASDAQ PTLO opened at $11.30 on Tuesday. The firm has a market capitalization of $838.69 million, a PE ratio of 26.90, a P/E/G ratio of 12.85 and a beta of 1.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31. Portillo’s Inc. has a 12 month low of $8.66 and a 12 month high of $16.92. The company’s 50 day simple moving average is $12.56 and its 200 day simple moving average is $11.23.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. As a group, equities research analysts forecast that Portillo’s Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stephens restated an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a research note on Wednesday, November 6th. Stifel Nicolaus cut Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Wednesday, November 6th. Finally, UBS Group lifted their target price on Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.00.

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.