Portillo's Inc. $PTLO Shares Acquired by CenterStar Asset Management LLC

Key Points

• CenterStar Asset Management LLC has significantly increased its stake in Portillo's Inc. by 375.5% in Q2, now owning 52,300 shares, which makes up about 0.1% of its portfolio.
• Several institutional investors, including Soros Capital Management LLC and Ameriprise Financial Inc., have also ramped up their positions in Portillo's, indicating strong institutional interest.
• Analysts have downgraded Portillo's stock target prices, with the consensus rating now at "Moderate Buy", reflecting a cautious outlook on the company's performance.

CenterStar Asset Management LLC boosted its position in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 375.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,300 shares of the company's stock after purchasing an additional 41,300 shares during the period. Portillo's makes up about 0.1% of CenterStar Asset Management LLC's portfolio, making the stock its 23rd largest holding. CenterStar Asset Management LLC owned 0.07% of Portillo's worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Soros Capital Management LLC lifted its stake in Portillo's by 486.8% during the first quarter. Soros Capital Management LLC now owns 431,012 shares of the company's stock valued at $5,125,000 after purchasing an additional 357,561 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Portillo's by 53.6% in the first quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company's stock valued at $40,590,000 after buying an additional 1,191,443 shares in the last quarter. Orbis Allan Gray Ltd lifted its position 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 during the last quarter. Invesco Ltd. lifted its position in shares of Portillo's by 196.6% during the 1st quarter. Invesco Ltd. now owns 173,928 shares of the company's stock valued at $2,068,000 after acquiring an additional 115,278 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Portillo's during the 1st quarter worth $1,445,000. 98.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PTLO has been the subject of several analyst reports. Robert W. Baird reduced their target price on Portillo's from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. UBS Group cut their price objective on Portillo's from $9.00 to $7.50 and set a "neutral" rating on the stock in a report on Monday, September 15th. Morgan Stanley decreased their target price on shares of Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Portillo's from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $10.00 price objective on shares of Portillo's in a research note on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

Insider Activity

In other news, CEO Michael Osanloo acquired 11,320 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $7.42 per share, for a total transaction of $83,994.40. Following the transaction, the chief executive officer directly owned 63,317 shares in the company, valued at approximately $469,812.14. This represents a 21.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Kelly M. Kaiser acquired 27,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were bought at an average cost of $7.68 per share, with a total value of $207,360.00. Following the transaction, the general counsel directly owned 68,495 shares of the company's stock, 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 bought a total of 210,570 shares of company stock worth $1,614,474 over the last three months. Company insiders own 6.14% of the company's stock.

Portillo's Trading Up 1.6%

Shares of NASDAQ PTLO opened at $6.54 on Friday. Portillo's Inc. has a 1-year low of $6.00 and a 1-year high of $15.78. The company has a 50-day moving average of $7.31 and a two-hundred day moving average of $10.12. The company has a market cap of $492.78 million, a PE ratio of 14.53, a P/E/G ratio of 5.15 and a beta of 1.76. The company has a current ratio of 0.29, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49.

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

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.

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