CenterStar Asset Management LLC Has $131,000 Stock Holdings in Portillo's Inc. (NASDAQ:PTLO)

CenterStar Asset Management LLC trimmed its stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 81.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,000 shares of the company's stock after selling 49,529 shares during the quarter. CenterStar Asset Management LLC's holdings in Portillo's were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management grew its holdings in shares of Portillo's by 100.0% during the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $38,000 after buying an additional 2,000 shares in the last quarter. Comerica Bank increased its position in shares of Portillo's by 172.6% in the fourth quarter. Comerica Bank now owns 5,395 shares of the company's stock worth $51,000 after acquiring an additional 3,416 shares in the last quarter. Fund 1 Investments LLC purchased a new position in Portillo's in the fourth quarter valued at about $53,000. BNP Paribas Financial Markets acquired a new position in shares of Portillo's during the fourth quarter worth about $62,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Portillo's in the fourth quarter worth about $83,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo's Stock Down 4.7%

Shares of NASDAQ PTLO traded down $0.57 during mid-day trading on Thursday, reaching $11.49. The company had a trading volume of 664,180 shares, compared to its average volume of 1,446,454. The stock's 50 day moving average is $11.52 and its 200-day moving average is $11.81. Portillo's Inc. has a twelve month low of $8.38 and a twelve month high of $15.78. The stock has a market capitalization of $859.62 million, a PE ratio of 27.36, a price-to-earnings-growth ratio of 14.77 and a beta of 1.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $176.44 million during the quarter, compared to analyst estimates of $180.76 million. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. As a group, equities analysts anticipate that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. William Blair reissued an "outperform" rating on shares of Portillo's in a research report on Friday, May 30th. Piper Sandler lowered their price target on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Baird R W downgraded shares of Portillo's from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Robert W. Baird reissued a "neutral" rating and issued a $12.00 price objective (down from $15.00) on shares of Portillo's in a research report on Monday, April 7th. Finally, Stifel Nicolaus boosted their price target on Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $13.71.

Insider Buying and Selling

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $12.23, for a total value of $122,300,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.14% of the stock is owned by insiders.

Portillo's Company Profile

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.