Del Taco Restaurants Inc. (TACO) Short Interest Down 19.3% in October
Del Taco Restaurants Inc. (NASDAQ:TACO) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 3,067,761 shares, a drop of 19.3% from the October 14th total of 3,800,214 shares. Approximately 9.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,039,586 shares, the short-interest ratio is presently 3.0 days.
In related news, SVP David Pear sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $10.55, for a total transaction of $63,300.00. Following the transaction, the senior vice president now directly owns 125,080 shares of the company’s stock, valued at approximately $1,319,594. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TACO. Great West Life Assurance Co. Can acquired a new position in Del Taco Restaurants during the third quarter worth $106,000. A.R.T. Advisors LLC acquired a new position in Del Taco Restaurants during the second quarter worth $110,000. American International Group Inc. acquired a new position in Del Taco Restaurants during the second quarter worth $121,000. BlackRock Group LTD raised its position in Del Taco Restaurants by 8.6% in the third quarter. BlackRock Group LTD now owns 11,448 shares of the company’s stock worth $137,000 after buying an additional 909 shares during the period. Finally, Wedbush Securities Inc. raised its position in Del Taco Restaurants by 10.9% in the second quarter. Wedbush Securities Inc. now owns 15,630 shares of the company’s stock worth $142,000 after buying an additional 1,530 shares during the period. 61.04% of the stock is owned by hedge funds and other institutional investors.
Del Taco Restaurants (NASDAQ:TACO) opened at 14.25 on Monday. The stock has a market capitalization of $560.95 million, a PE ratio of 33.06 and a beta of -0.11. Del Taco Restaurants has a 52 week low of $8.37 and a 52 week high of $14.46. The firm has a 50-day moving average price of $12.86 and a 200-day moving average price of $10.71.
Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings data on Monday, October 17th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The firm earned $104.42 million during the quarter, compared to analyst estimates of $101.61 million. Del Taco Restaurants had a return on equity of 4.78% and a net margin of 4.07%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities research analysts predict that Del Taco Restaurants will post $0.55 EPS for the current fiscal year.
A number of equities analysts recently weighed in on TACO shares. Zacks Investment Research raised Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Saturday, July 23rd. Jefferies Group reissued a “buy” rating and set a $14.00 price objective (down from $16.00) on shares of Del Taco Restaurants in a report on Thursday, July 21st. Citigroup Inc. raised their price objective on Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. BTIG Research raised their price objective on Del Taco Restaurants from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, October 18th. Finally, TheStreet raised Del Taco Restaurants from a “sell” rating to a “hold” rating in a report on Tuesday, October 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Del Taco Restaurants currently has a consensus rating of “Buy” and a consensus price target of $14.80.
About Del Taco Restaurants
Del Taco Restaurants, Inc, formerly Levy Acquisition Corporation, is an operator and franchisor of restaurants featuring fresh and fast made-to-order cuisine, including both Mexican inspired and American classic dishes. The Company operates Del Taco restaurants in approximately 20 states, including over one franchised restaurant in Guam.
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