Portillo’s Inc. (NASDAQ:PTLO) Sees Significant Increase in Short Interest

Portillo’s Inc. (NASDAQ:PTLO) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,460,000 shares, an increase of 34.8% from the March 31st total of 4,050,000 shares. Based on an average daily trading volume, of 909,100 shares, the days-to-cover ratio is currently 6.0 days. Approximately 9.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Kornitzer Capital Management Inc. KS increased its stake in shares of Portillo’s by 631.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 614,230 shares of the company’s stock valued at $9,453,000 after purchasing an additional 530,257 shares in the last quarter. Granahan Investment Management LLC increased its holdings in Portillo’s by 33.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after acquiring an additional 334,731 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Portillo’s by 22.3% during the first quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock valued at $22,300,000 after purchasing an additional 286,618 shares in the last quarter. Blair William & Co. IL grew its position in shares of Portillo’s by 10.7% in the third quarter. Blair William & Co. IL now owns 2,495,995 shares of the company’s stock valued at $38,413,000 after purchasing an additional 241,069 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Portillo’s during the 1st quarter worth about $2,074,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on PTLO shares. Stephens began coverage on Portillo’s in a research note on Friday, April 12th. They set an “overweight” rating and a $20.00 target price on the stock. Morgan Stanley lowered their price target on Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Portillo’s has a consensus rating of “Moderate Buy” and an average price target of $22.43.

Portillo’s Stock Up 0.4 %

NASDAQ PTLO traded up $0.05 on Tuesday, hitting $12.26. The stock had a trading volume of 801,394 shares, compared to its average volume of 888,701. Portillo’s has a 52-week low of $11.53 and a 52-week high of $23.99. The business’s fifty day moving average price is $13.33 and its 200 day moving average price is $14.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.40 and a quick ratio of 0.32. The stock has a market cap of $894.61 million, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 1.58 and a beta of 1.85.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The firm had revenue of $187.86 million for the quarter, compared to the consensus estimate of $184.95 million. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities research analysts anticipate that Portillo’s will post 0.4 earnings per share for the current year.

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.