Kornitzer Capital Management Inc. KS Lowers Stock Position in Portillo's Inc. $PTLO

Key Points

• Kornitzer Capital Management Inc. reduced its holdings in Portillo's Inc. by 47.1%, owning approximately 0.41% of the company with a value of $3,585,000 after selling 273,685 shares.
• During the same period, Soros Capital Management LLC increased its stake in Portillo's by 486.8%, acquiring 357,561 additional shares, totaling 431,012 shares valued at $5,125,000.
• Portillo's reported earnings of $0.12 per share for the last quarter, meeting the consensus estimate, although its revenue fell short of expectations at $188.46 million.

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 47.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,234 shares of the company's stock after selling 273,685 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.41% of Portillo's worth $3,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Soros Capital Management LLC lifted its holdings in shares of Portillo's by 486.8% during the 1st quarter. Soros Capital Management LLC now owns 431,012 shares of the company's stock valued at $5,125,000 after acquiring an additional 357,561 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Portillo's by 53.6% during the 1st quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company's stock valued at $40,590,000 after acquiring an additional 1,191,443 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Portillo's during the 2nd quarter valued at $6,537,000. Orbis Allan Gray Ltd lifted its holdings in shares of Portillo's by 4.1% during the 1st quarter. Orbis Allan Gray Ltd now owns 5,973,638 shares of the company's stock valued at $71,027,000 after acquiring an additional 234,475 shares in the last quarter. Finally, CenterStar Asset Management LLC lifted its holdings in shares of Portillo's by 375.5% during the 2nd quarter. CenterStar Asset Management LLC now owns 52,300 shares of the company's stock valued at $611,000 after acquiring an additional 41,300 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Portillo's Price Performance

PTLO opened at $5.70 on Friday. The company has a 50-day moving average of $6.47 and a 200-day moving average of $9.46. The company has a market capitalization of $429.50 million, a P/E ratio of 12.67, a PEG ratio of 4.99 and a beta of 1.75. Portillo's Inc. has a 1-year low of $5.58 and a 1-year high of $15.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.23 and a current ratio of 0.29.

Portillo's (NASDAQ:PTLO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $188.46 million during the quarter, compared to the consensus estimate of $197.04 million. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The company's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. Portillo's has set its FY 2025 guidance at EPS. Equities analysts expect that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity at Portillo's

In other Portillo's news, Director Eugene I. Lee, Jr. acquired 130,250 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average price of $7.68 per share, with a total value of $1,000,320.00. Following the transaction, the director directly owned 130,250 shares in the company, valued at approximately $1,000,320. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michelle Greig Hook acquired 40,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average cost of $7.67 per share, with a total value of $306,800.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 210,570 shares of company stock worth $1,614,474 over the last quarter. Company insiders own 6.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PTLO shares. Robert W. Baird cut their price objective on shares of Portillo's from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Jefferies Financial Group reiterated a "hold" rating and issued a $6.00 price objective (down previously from $10.00) on shares of Portillo's in a report on Monday, October 13th. Stephens set a $8.00 price objective on shares of Portillo's in a report on Monday, October 13th. Bank of America reiterated a "neutral" rating and issued a $7.00 price objective (down previously from $14.00) on shares of Portillo's in a report on Monday, October 6th. Finally, Morgan Stanley set a $9.00 price objective on shares of Portillo's in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $10.17.

Portillo's 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.

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