Quest Partners LLC Sells 5,331 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Quest Partners LLC reduced its stake in Portillo’s Inc. (NASDAQ:PTLO) by 38.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,416 shares of the company’s stock after selling 5,331 shares during the period. Quest Partners LLC’s holdings in Portillo’s were worth $113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Engaged Capital LLC grew its position in shares of Portillo’s by 38.7% in the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after buying an additional 770,443 shares during the period. Vanguard Group Inc. increased its stake in shares of Portillo’s by 14.9% during the first quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company’s stock valued at $76,604,000 after purchasing an additional 700,583 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Portillo’s by 307.9% during the second quarter. Squarepoint Ops LLC now owns 522,580 shares of the company’s stock valued at $5,079,000 after purchasing an additional 394,479 shares in the last quarter. Millennium Management LLC boosted its position in shares of Portillo’s by 499.4% in the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock worth $3,812,000 after purchasing an additional 326,743 shares in the last quarter. Finally, Emerald Advisers LLC boosted its position in shares of Portillo’s by 29.4% in the 3rd quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock worth $17,137,000 after purchasing an additional 288,675 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo’s Stock Performance

Shares of NASDAQ PTLO opened at $11.55 on Friday. The firm’s 50-day moving average price is $12.40 and its 200-day moving average price is $11.25. Portillo’s Inc. has a 52-week low of $8.66 and a 52-week high of $16.92. The company has a market cap of $857.24 million, a PE ratio of 27.50, a PEG ratio of 13.55 and a beta of 1.78. 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 (NASDAQ:PTLO) last posted its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, analysts anticipate that Portillo’s Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Stifel Nicolaus cut shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a research note on Wednesday, November 6th. Finally, Stephens restated an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.00.

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.