Cubist Systematic Strategies LLC Invests $1.24 Million in Portillo's Inc. $PTLO

Cubist Systematic Strategies LLC purchased a new position in Portillo's Inc. (NASDAQ:PTLO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 103,926 shares of the company's stock, valued at approximately $1,236,000. Cubist Systematic Strategies LLC owned approximately 0.14% of Portillo's at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PTLO. Price T Rowe Associates Inc. MD lifted its position in shares of Portillo's by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,622 shares of the company's stock worth $194,000 after purchasing an additional 3,098 shares in the last quarter. Northern Trust Corp lifted its position in shares of Portillo's by 6.9% in the fourth quarter. Northern Trust Corp now owns 502,461 shares of the company's stock worth $4,723,000 after purchasing an additional 32,623 shares in the last quarter. Comerica Bank lifted 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 purchasing an additional 3,416 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Portillo's during the fourth quarter valued at approximately $62,000. Finally, Bank of America Corp DE raised its position in Portillo's by 58.0% during the fourth quarter. Bank of America Corp DE now owns 154,872 shares of the company's stock valued at $1,456,000 after acquiring an additional 56,867 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of Portillo's in a research report on Friday, May 30th. Bank of America cut their price objective on shares of Portillo's from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Wall Street Zen lowered shares of Portillo's from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Morgan Stanley cut their price objective on shares of Portillo's from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group cut their price objective on shares of Portillo's from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

Portillo's Stock Performance

PTLO stock traded down $0.01 during midday trading on Friday, hitting $6.13. 4,421,161 shares of the company traded hands, compared to its average volume of 3,372,930. Portillo's Inc. has a twelve month low of $6.00 and a twelve month high of $15.78. The company has a quick ratio of 0.23, a current ratio of 0.29 and a debt-to-equity ratio of 0.49. The business has a 50 day simple moving average of $8.70 and a 200-day simple moving average of $10.82. The stock has a market capitalization of $461.90 million, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 4.69 and a beta of 1.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Portillo's had a return on equity of 6.25% and a net margin of 4.19%.The company had revenue of $188.46 million for the quarter, compared to the consensus estimate of $197.04 million. During the same quarter last year, the company posted $0.10 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Portillo's has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Portillo's Inc. will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michelle Greig Hook acquired 40,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $7.67 per share, for a total transaction of $306,800.00. Following the completion of the purchase, the chief financial officer owned 173,405 shares in the company, valued at approximately $1,330,016.35. The trade was a 29.98% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. acquired 130,250 shares of the stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $7.68 per share, for a total transaction of $1,000,320.00. Following the purchase, the director owned 130,250 shares of the company's stock, valued at $1,000,320. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 210,570 shares of company stock worth $1,614,474. 6.14% of the stock is currently owned by company insiders.

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.