Soros Capital Management LLC Purchases 357,561 Shares of Portillo's Inc. $PTLO

Key Points

• Soros Capital Management LLC significantly increased its stake in Portillo's Inc. by 486.8% during the 1st quarter, acquiring an additional 357,561 shares, bringing its total ownership to 431,012 shares.
• Several hedge funds, including CWM LLC and North Star Investment Management Corp., have also increased their positions in Portillo's, indicating growing institutional interest with 98.34% of the company's stock now held by institutional investors.
• Recent analyst ratings have been mixed, with several firms lowering their price targets, while the consensus rating on the stock is a "Moderate Buy" with an average target price of $12.50.

Soros Capital Management LLC increased its position in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 486.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,012 shares of the company's stock after acquiring an additional 357,561 shares during the quarter. Portillo's comprises approximately 1.3% of Soros Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. Soros Capital Management LLC owned about 0.58% of Portillo's worth $5,125,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its stake in Portillo's by 58.3% during the 1st quarter. CWM LLC now owns 3,194 shares of the company's stock worth $38,000 after acquiring an additional 1,176 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Portillo's by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,742 shares of the company's stock worth $289,000 after acquiring an additional 1,185 shares during the last quarter. Rhumbline Advisers increased its stake in Portillo's by 2.2% during the 1st quarter. Rhumbline Advisers now owns 82,605 shares of the company's stock worth $982,000 after purchasing an additional 1,744 shares in the last quarter. North Star Investment Management Corp. increased its stake in Portillo's by 137.6% during the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock worth $42,000 after purchasing an additional 2,037 shares in the last quarter. Finally, Miller Financial Services LLC increased its stake in Portillo's by 3.6% during the 1st quarter. Miller Financial Services LLC now owns 61,266 shares of the company's stock worth $728,000 after purchasing an additional 2,140 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PTLO. Stephens lowered their target price on Portillo's from $13.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Wall Street Zen cut Portillo's from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Robert W. Baird set a $8.00 target price on Portillo's in a research note on Tuesday, August 5th. UBS Group decreased their price target on Portillo's from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Morgan Stanley decreased their price target on Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

Insider Activity at Portillo's

In related news, Director Eugene I. Lee, Jr. purchased 130,250 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $7.68 per share, with a total value of $1,000,320.00. Following the acquisition, the director owned 130,250 shares of the company's stock, valued at $1,000,320. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Kelly M. Kaiser purchased 27,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $7.68 per share, for a total transaction of $207,360.00. Following the completion of the acquisition, the general counsel directly owned 68,495 shares in the company, valued at $526,041.60. The trade was a 65.07% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 210,570 shares of company stock valued at $1,614,474. Company insiders own 6.14% of the company's stock.

Portillo's Stock Up 2.2%

Shares of PTLO opened at $7.29 on Monday. Portillo's Inc. has a 12 month low of $7.01 and a 12 month high of $15.78. The firm's 50 day moving average is $10.18 and its 200-day moving average is $11.60. The stock has a market capitalization of $549.30 million, a PE ratio of 16.20, a P/E/G ratio of 5.03 and a beta of 1.81. 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 earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The company had revenue of $188.46 million for the quarter, compared to analysts' expectations of $197.04 million. During the same period last year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Portillo's has set its FY 2025 guidance at EPS. Equities research analysts forecast that Portillo's Inc. will post 0.35 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.