Kornitzer Capital Management Inc. KS Has $6.68 Million Position in Portillo’s Inc. (NASDAQ:PTLO)

Kornitzer Capital Management Inc. KS lowered its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 710,919 shares of the company’s stock after selling 4,426 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Portillo’s were worth $6,683,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in Portillo’s during the fourth quarter worth $47,000. nVerses Capital LLC acquired a new stake in shares of Portillo’s in the 3rd quarter valued at $69,000. Savant Capital LLC acquired a new stake in shares of Portillo’s in the 4th quarter valued at $96,000. Sonora Investment Management Group LLC acquired a new stake in shares of Portillo’s in the 4th quarter valued at $98,000. Finally, Stoneridge Investment Partners LLC boosted its stake in shares of Portillo’s by 23.5% in the 4th quarter. Stoneridge Investment Partners LLC now owns 12,605 shares of the company’s stock valued at $118,000 after purchasing an additional 2,396 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Stock Performance

Portillo’s stock opened at $15.14 on Wednesday. The stock has a 50-day simple moving average of $11.48 and a 200 day simple moving average of $11.86. 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 Inc. has a 12-month low of $8.38 and a 12-month high of $16.17. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 15.06 and a beta of 1.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PTLO shares. UBS Group reduced their target price on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Stephens restated an “equal weight” rating and issued a $13.00 target price on shares of Portillo’s in a research note on Wednesday, November 6th. Stifel Nicolaus upgraded shares of Portillo’s from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $16.00 in a research note on Monday, January 27th. Finally, Morgan Stanley reduced their target price on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.00.

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.