El Pollo Loco Holdings, Inc. (NASDAQ:LOCO – Get Free Report) major shareholder Sardar Biglari sold 100,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $16.75, for a total value of $1,675,000.00. Following the transaction, the insider owned 3,900,000 shares in the company, valued at $65,325,000. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Sardar Biglari also recently made the following trade(s):
- On Tuesday, June 30th, Sardar Biglari sold 22,600 shares of El Pollo Loco stock. The shares were sold at an average price of $16.91, for a total value of $382,166.00.
- On Monday, June 29th, Sardar Biglari sold 100,000 shares of El Pollo Loco stock. The stock was sold at an average price of $16.58, for a total value of $1,658,000.00.
El Pollo Loco Stock Performance
Shares of LOCO stock traded up $0.43 during mid-day trading on Tuesday, reaching $16.96. The stock had a trading volume of 299,164 shares, compared to its average volume of 336,032. El Pollo Loco Holdings, Inc. has a one year low of $8.98 and a one year high of $17.00. The firm has a market cap of $516.43 million, a PE ratio of 17.31 and a beta of 0.81. The firm’s 50 day simple moving average is $14.48 and its 200 day simple moving average is $12.69. The company has a quick ratio of 0.32, a current ratio of 0.34 and a debt-to-equity ratio of 0.15.
El Pollo Loco announced that its board has authorized a share buyback program on Thursday, May 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LOCO. Truist Financial increased their price objective on shares of El Pollo Loco from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, March 13th. Wall Street Zen upgraded shares of El Pollo Loco from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. William Blair reissued a “market perform” rating on shares of El Pollo Loco in a research note on Friday, March 13th. Benchmark raised their price target on shares of El Pollo Loco from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised El Pollo Loco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, El Pollo Loco has an average rating of “Hold” and an average target price of $14.88.
View Our Latest Report on LOCO
Institutional Investors Weigh In On El Pollo Loco
Several large investors have recently made changes to their positions in LOCO. Dimensional Fund Advisors LP lifted its holdings in El Pollo Loco by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,013,373 shares of the restaurant operator’s stock valued at $27,905,000 after purchasing an additional 12,072 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of El Pollo Loco by 1.2% during the third quarter. Vanguard Group Inc. now owns 1,400,032 shares of the restaurant operator’s stock worth $13,580,000 after buying an additional 16,867 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of El Pollo Loco by 93.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,037,293 shares of the restaurant operator’s stock worth $10,850,000 after buying an additional 502,378 shares in the last quarter. Fund 1 Investments LLC raised its stake in shares of El Pollo Loco by 193.4% in the fourth quarter. Fund 1 Investments LLC now owns 745,140 shares of the restaurant operator’s stock valued at $7,794,000 after acquiring an additional 491,184 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of El Pollo Loco by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 741,793 shares of the restaurant operator’s stock valued at $7,195,000 after acquiring an additional 15,400 shares during the last quarter. Institutional investors own 81.28% of the company’s stock.
About El Pollo Loco
El Pollo Loco (NASDAQ: LOCO) is a fast-casual restaurant chain specializing in Mexican-style fire-grilled chicken and complementary menu offerings. The company’s signature product is its marinated, flame-grilled chicken, which is prepared in an open-flame rotisserie and served in a variety of formats including tacos, burritos, bowls and salads. In addition to its core chicken offerings, El Pollo Loco menu items feature fresh-made salsas, guacamole, sides such as charro beans and fresh tortillas, as well as a selection of beverages and desserts.
Founded in 1975 in Guasave, Sinaloa, Mexico, by Juan Francisco Ochoa, the concept expanded into the United States in 1980 with its first U.S.
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