Michael Osanloo Buys 2,000 Shares of Portillo's Inc. (NASDAQ:PTLO) Stock

Key Points

• Michael Osanloo, the CEO of Portillo's Inc., acquired 2,000 shares at an average cost of $8.00 each, increasing his total holdings to 65,317 shares valued around $522,536.
• Portillo's reported earnings of $0.12 per share for the last quarter, meeting analyst expectations, although revenue fell short of forecasts at $188.46 million.
• Analysts have recently adjusted their price targets for Portillo's shares, with Stephens lowering its target from $13.00 to $10.00, indicating mixed future projections for the stock.

Portillo's Inc. (NASDAQ:PTLO - Get Free Report) CEO Michael Osanloo acquired 2,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $16,000.00. Following the acquisition, the chief executive officer owned 65,317 shares in the company, valued at approximately $522,536. The trade was a 3.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 8th, Michael Osanloo acquired 11,320 shares of Portillo's stock. The stock was acquired at an average price of $7.42 per share, for a total transaction of $83,994.40.

Portillo's Price Performance

Shares of PTLO traded down $0.09 during mid-day trading on Friday, hitting $7.62. The company's stock had a trading volume of 625,732 shares, compared to its average volume of 2,110,003. The company has a current ratio of 0.29, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $10.70 and a 200 day simple moving average of $11.93. The firm has a market capitalization of $569.75 million, a P/E ratio of 16.94, a P/E/G ratio of 5.57 and a beta of 1.81. Portillo's Inc. has a 1-year low of $7.20 and a 1-year high of $15.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $188.46 million during the quarter, compared to analysts' expectations of $197.04 million. Portillo's had a return on equity of 6.25% and a net margin of 4.19%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Analysts predict that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTLO has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Portillo's from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Bank of America dropped their price target on Portillo's from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. William Blair restated an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. Wall Street Zen downgraded Portillo's from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Stephens dropped their price target on Portillo's from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Portillo's presently has a consensus rating of "Hold" and an average target price of $12.50.

Hedge Funds Weigh In On Portillo's

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd raised its holdings in Portillo's by 4.1% during the first quarter. Orbis Allan Gray Ltd now owns 5,973,638 shares of the company's stock worth $71,027,000 after purchasing an additional 234,475 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Portillo's by 16.8% during the second quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company's stock worth $67,428,000 after purchasing an additional 830,460 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Portillo's by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 3,563,600 shares of the company's stock worth $41,587,000 after acquiring an additional 149,931 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Portillo's by 8.2% in the fourth quarter. Marshall Wace LLP now owns 1,751,856 shares of the company's stock worth $16,467,000 after acquiring an additional 132,112 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Portillo's by 0.9% in the second quarter. Blair William & Co. IL now owns 1,627,315 shares of the company's stock worth $18,991,000 after acquiring an additional 14,303 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.