El Pollo Loco Holdings, Inc. (NASDAQ:LOCO – Get Free Report) major shareholder Sardar Biglari sold 100,000 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $16.58, for a total value of $1,658,000.00. Following the completion of the sale, the insider owned 3,800,000 shares in the company, valued at $63,004,000. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 stock was sold at an average price of $16.91, for a total transaction of $382,166.00.
- On Friday, June 26th, Sardar Biglari sold 100,000 shares of El Pollo Loco stock. The stock was sold at an average price of $16.75, for a total transaction of $1,675,000.00.
El Pollo Loco Trading Up 2.6%
Shares of NASDAQ:LOCO opened at $16.96 on Wednesday. The company has a market cap of $516.43 million, a PE ratio of 17.31 and a beta of 0.81. The company’s 50-day moving average price is $14.48 and its 200 day moving average price is $12.69. El Pollo Loco Holdings, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $17.00. 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 plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
Several analysts recently commented on the company. William Blair restated a “market perform” rating on shares of El Pollo Loco in a research report on Friday, March 13th. DA Davidson boosted their price target on El Pollo Loco from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen raised El Pollo Loco from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Weiss Ratings raised El Pollo Loco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Benchmark raised their price target on El Pollo Loco from $14.00 to $18.00 and gave the company a “buy” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.88.
Read Our Latest Stock Report on LOCO
Institutional Trading of El Pollo Loco
Several institutional investors have recently modified their holdings of LOCO. Goldman Sachs Group Inc. boosted its stake in 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 valued at $10,850,000 after buying an additional 502,378 shares in the last quarter. Fund 1 Investments LLC raised its position in 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 worth $7,794,000 after acquiring an additional 491,184 shares in the last quarter. Millennium Management LLC lifted its holdings in El Pollo Loco by 197.4% in the 1st quarter. Millennium Management LLC now owns 680,391 shares of the restaurant operator’s stock valued at $7,008,000 after acquiring an additional 451,575 shares during the last quarter. Sei Investments Co. lifted its holdings in El Pollo Loco by 203.8% in the 1st quarter. Sei Investments Co. now owns 635,468 shares of the restaurant operator’s stock valued at $8,808,000 after acquiring an additional 426,320 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of El Pollo Loco by 59.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 571,296 shares of the restaurant operator’s stock valued at $5,976,000 after purchasing an additional 211,900 shares in the last quarter. Institutional investors and hedge funds 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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