Granahan Investment Management LLC Sells 739,427 Shares of Portillo's Inc. (NASDAQ:PTLO)

Granahan Investment Management LLC cut its stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 66.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,745 shares of the company's stock after selling 739,427 shares during the quarter. Granahan Investment Management LLC owned 0.50% of Portillo's worth $3,504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hollencrest Capital Management boosted its stake in Portillo's by 100.0% in the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $38,000 after purchasing an additional 2,000 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Portillo's in the fourth quarter worth $47,000. Comerica Bank grew 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 buying an additional 3,416 shares in the last quarter. Fund 1 Investments LLC acquired a new position in shares of Portillo's during the 4th quarter worth $53,000. Finally, BNP Paribas Financial Markets bought a new position in Portillo's during the fourth quarter valued at about $62,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Portillo's Trading Up 4.0%

NASDAQ PTLO traded up $0.51 during trading hours on Friday, hitting $13.29. The company's stock had a trading volume of 2,183,748 shares, compared to its average volume of 1,400,789. The firm has a market capitalization of $991.47 million, a P/E ratio of 31.63, a PEG ratio of 14.77 and a beta of 1.83. The stock has a fifty day moving average of $11.67 and a 200 day moving average of $11.87. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. Portillo's Inc. has a twelve month low of $8.38 and a twelve month high of $15.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The company had revenue of $176.44 million for the quarter, compared to analyst estimates of $180.76 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group dropped their price target on shares of Portillo's from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus raised their price objective on Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Baird R W cut shares of Portillo's from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Robert W. Baird reiterated a "neutral" rating and issued a $12.00 price objective (down from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Finally, Morgan Stanley set a $12.00 price objective on Portillo's in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Portillo's currently has an average rating of "Hold" and a consensus price target of $13.71.

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.