Portillo's Inc. (NASDAQ:PTLO) CEO Michael Osanloo Acquires 11,320 Shares

Key Points

• Portillo's Inc. CEO Michael Osanloo acquired 11,320 shares of the company's stock at an average price of $7.42 per share, increasing his total ownership by 21.77%.
• The company's stock recently traded at $7.85, showing a 5.8% increase, with a market capitalization of approximately $587.30 million.
• Portillo's reported earnings of $0.12 per share for the last quarter, meeting analyst expectations, but its revenue fell short of estimates at $188.46 million.

Portillo's Inc. (NASDAQ:PTLO - Get Free Report) CEO Michael Osanloo acquired 11,320 shares of Portillo's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $7.42 per share, with a total value of $83,994.40. Following the acquisition, the chief executive officer owned 63,317 shares of the company's stock, valued at approximately $469,812.14. This trade represents a 21.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Michael Osanloo also recently made the following trade(s):

• On Monday, August 11th, Michael Osanloo bought 2,000 shares of Portillo's stock. The shares were bought at an average cost of $8.00 per share, for a total transaction of $16,000.00.

Portillo's Trading Up 5.8%

PTLO traded up $0.43 during trading on Monday, reaching $7.85. 3,827,504 shares of the company's stock were exchanged, compared to its average volume of 2,086,302. 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 Inc. has a one year low of $7.20 and a one year high of $15.78. The stock has a market capitalization of $587.30 million, a PE ratio of 17.44, a price-to-earnings-growth ratio of 5.12 and a beta of 1.81. The firm has a fifty day moving average price of $10.93 and a two-hundred day moving average price of $12.02.

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

Institutional Investors Weigh In On Portillo's

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Portillo's by 135.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,596 shares of the company's stock valued at $30,000 after buying an additional 1,495 shares during the period. Allworth Financial LP purchased a new position in Portillo's in the 2nd quarter worth approximately $32,000. CWM LLC lifted its position in Portillo's by 58.3% in the first quarter. CWM LLC now owns 3,194 shares of the company's stock valued at $38,000 after purchasing an additional 1,176 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of Portillo's by 137.6% during the first quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock valued at $42,000 after purchasing an additional 2,037 shares during the period. Finally, Comerica Bank grew its holdings in shares of Portillo's by 172.6% in the fourth quarter. Comerica Bank now owns 5,395 shares of the company's stock worth $51,000 after purchasing an additional 3,416 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PTLO shares. Morgan Stanley reduced their price target on shares of Portillo's from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. UBS Group reduced their target price on Portillo's from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Piper Sandler dropped their price objective on Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Bank of America decreased their target price on Portillo's from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Robert W. Baird set a $8.00 target price on shares of Portillo's in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Portillo's has an average rating of "Hold" and an average price target of $12.50.

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.

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