Insider Buying: Portillo's (NASDAQ:PTLO) Director Acquires $299,979.45 in Stock

Key Points

• Portillo’s director Eugene Lee Jr. purchased 65,355 shares for approximately $299,979, increasing his ownership by 13.44% to 551,770 shares.
• PTLO shares traded at $4.76, near the lower end of their 52-week range of $3.78 to $8.14. The company matched quarterly EPS expectations at $0.09, while revenue rose 5.6% year over year to $198.95 million.
• Wall Street maintains a predominantly cautious view, with a consensus “Hold” rating and an average price target of $5.92; institutional investors own 98.34% of the stock.

Portillo's Inc. (NASDAQ:PTLO - Get Free Report) Director Eugene Lee, Jr. bought 65,355 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $4.59 per share, for a total transaction of $299,979.45. Following the completion of the acquisition, the director owned 551,770 shares in the company, valued at approximately $2,532,624.30. This trade represents a 13.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Portillo's Price Performance

NASDAQ PTLO traded up $0.25 on Wednesday, hitting $4.76. 1,936,821 shares of the company's stock were exchanged, compared to its average volume of 1,678,438. The stock has a 50-day moving average of $4.48 and a 200-day moving average of $5.00. The company has a current ratio of 0.26, a quick ratio of 0.20 and a debt-to-equity ratio of 0.46. Portillo's Inc. has a 52 week low of $3.78 and a 52 week high of $8.14. The stock has a market cap of $360.84 million, a price-to-earnings ratio of 26.45, a P/E/G ratio of 0.90 and a beta of 1.56.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Portillo's had a return on equity of 2.78% and a net margin of 1.85%.The company had revenue of $198.95 million for the quarter, compared to analyst estimates of $199.22 million. During the same quarter last year, the company posted $0.12 EPS. The company's revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect that Portillo's Inc. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Portillo's

Several large investors have recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in shares of Portillo's by 29.5% during the second quarter. Deutsche Bank AG now owns 65,667 shares of the company's stock valued at $311,000 after purchasing an additional 14,973 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Portillo's by 283.1% during the second quarter. Russell Investments Group Ltd. now owns 36,556 shares of the company's stock worth $173,000 after purchasing an additional 27,014 shares during the last quarter. Essential Partners LLC increased its stake in shares of Portillo's by 83,350.0% in the first quarter. Essential Partners LLC now owns 5,007 shares of the company's stock valued at $26,000 after buying an additional 5,001 shares during the period. Bank of America Corp DE increased its stake in shares of Portillo's by 3.3% in the first quarter. Bank of America Corp DE now owns 704,602 shares of the company's stock valued at $3,727,000 after buying an additional 22,744 shares during the period. Finally, Empowered Funds LLC raised its holdings in Portillo's by 10.0% in the 1st quarter. Empowered Funds LLC now owns 250,227 shares of the company's stock valued at $1,324,000 after buying an additional 22,733 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stephens reissued an "equal weight" rating and set a $5.00 target price on shares of Portillo's in a research note on Thursday, August 6th. Morgan Stanley reduced their price target on shares of Portillo's from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus decreased their price target on shares of Portillo's from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, May 6th. Guggenheim cut shares of Portillo's from a "buy" rating to a "neutral" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Portillo's in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.92.

Portillo's Company Profile

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.

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