El Pollo Loco Holdings Inc. (LOCO) Sees Large Increase in Short Interest
El Pollo Loco Holdings Inc. (NASDAQ:LOCO) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,788,811 shares, a growth of 33.0% from the August 31st total of 2,848,185 shares. Currently, 17.5% of the shares of the company are short sold. Based on an average daily volume of 832,545 shares, the days-to-cover ratio is presently 4.6 days.
LOCO has been the subject of several analyst reports. Jefferies Group restated a “buy” rating and set a $16.00 price target on shares of El Pollo Loco Holdings in a research note on Monday, September 19th. Robert W. Baird reiterated a “neutral” rating on shares of El Pollo Loco Holdings in a research report on Thursday, September 8th. Vetr cut El Pollo Loco Holdings from a “hold” rating to a “sell” rating and set a $12.74 price objective for the company. in a research report on Monday, July 11th. Zacks Investment Research upgraded El Pollo Loco Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $15.00 price objective on shares of El Pollo Loco Holdings in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.53.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Capital Management LLC purchased a new position in shares of El Pollo Loco Holdings during the second quarter valued at approximately $10,089,000. Lord Abbett & CO. LLC raised its position in El Pollo Loco Holdings by 30.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,415,252 shares of the company’s stock worth $18,398,000 after buying an additional 332,341 shares in the last quarter. Renaissance Technologies LLC bought a new position in El Pollo Loco Holdings during the first quarter worth about $3,626,000. FMR LLC raised its position in El Pollo Loco Holdings by 21.4% in the second quarter. FMR LLC now owns 1,373,400 shares of the company’s stock worth $17,854,000 after buying an additional 241,674 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its position in El Pollo Loco Holdings by 21.5% in the first quarter. Champlain Investment Partners LLC now owns 1,347,375 shares of the company’s stock worth $17,974,000 after buying an additional 238,310 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.
Shares of El Pollo Loco Holdings (NASDAQ:LOCO) opened at 11.89 on Wednesday. El Pollo Loco Holdings has a 12-month low of $9.58 and a 12-month high of $15.44. The firm has a 50-day moving average price of $13.42 and a 200 day moving average price of $12.89. The firm has a market cap of $456.80 million, a price-to-earnings ratio of 20.15 and a beta of 0.21.
El Pollo Loco Holdings (NASDAQ:LOCO) last issued its earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The company earned $97.50 million during the quarter, compared to analyst estimates of $96.66 million. El Pollo Loco Holdings had a return on equity of 11.01% and a net margin of 6.20%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. On average, equities research analysts anticipate that El Pollo Loco Holdings will post $0.70 earnings per share for the current fiscal year.
About El Pollo Loco Holdings
El Pollo Loco Holdings, Inc is a restaurant concept that offers fire-grilling citrus-marinated chicken. The Company operates in the limited service restaurant segment. The Company’s activities are conducted through its subsidiary, El Pollo Loco, Inc (EPL), which develops, franchises, licenses and operates quick-service restaurants under the name El Pollo Loco.
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