Portillo's Inc. $PTLO Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC sold 216,038 shares of Portillo's Inc., reducing its stake by 58% and now holding approximately 156,707 shares valued at $1.86 million.
• Other institutional investors have also increased their holdings in Portillo's, with Dimensional Fund Advisors LP growing its stake by 139.2% to over 1.1 million shares.
• Portillo's reported a quarterly earnings per share of $0.12, meeting estimates, but its revenue fell short of expectations at $188.46 million.

Granahan Investment Management LLC reduced its stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 58.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,707 shares of the company's stock after selling 216,038 shares during the period. Granahan Investment Management LLC owned approximately 0.21% of Portillo's worth $1,863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in shares of Portillo's by 58.3% during the 1st quarter. CWM LLC now owns 3,194 shares of the company's stock valued at $38,000 after acquiring an additional 1,176 shares during the last quarter. North Star Investment Management Corp. grew its position in shares of Portillo's by 137.6% during the first quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock worth $42,000 after buying an additional 2,037 shares in the last quarter. Comerica Bank raised its stake in shares of Portillo's by 172.6% in the 4th quarter. Comerica Bank now owns 5,395 shares of the company's stock valued at $51,000 after purchasing an additional 3,416 shares in the last quarter. Fund 1 Investments LLC acquired a new position in Portillo's in the fourth quarter valued at approximately $53,000. Finally, BNP Paribas Financial Markets acquired a new position in Portillo's during the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Portillo's Stock Down 0.2%

NASDAQ:PTLO traded down $0.02 on Thursday, hitting $6.14. The stock had a trading volume of 1,754,539 shares, compared to its average volume of 2,260,970. Portillo's Inc. has a 52 week low of $6.00 and a 52 week high of $15.78. The company has a market cap of $462.27 million, a PE ratio of 13.63, a P/E/G ratio of 4.50 and a beta of 1.78. 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's fifty day moving average is $8.94 and its 200 day moving average is $10.93.

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

Insider Activity at Portillo's

In related news, CFO Michelle Greig Hook bought 40,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was purchased at an average price of $7.67 per share, for a total transaction of $306,800.00. Following the acquisition, the chief financial officer owned 173,405 shares in the company, valued at $1,330,016.35. This trade represents a 29.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Kelly M. Kaiser bought 27,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $7.68 per share, with a total value of $207,360.00. Following the completion of the transaction, the general counsel owned 68,495 shares in the company, valued at $526,041.60. This represents a 65.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 210,570 shares of company stock valued at $1,614,474 in the last quarter. 6.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on PTLO. Stephens set a $10.00 target price on shares of Portillo's in a report on Wednesday. UBS Group dropped their price target on shares of Portillo's from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen cut Portillo's from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Bank of America dropped their price objective on Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, Robert W. Baird cut their price target on Portillo's from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.38.

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.