Governors Lane LP Makes New $14.16 Million Investment in Berto Acquisition Corp. $TACO

Governors Lane LP acquired a new stake in shares of Berto Acquisition Corp. (NASDAQ:TACO) during the second quarter, HoldingsChannel reports. The fund acquired 1,350,000 shares of the restaurant operator’s stock, valued at approximately $14,162,000. Berto Acquisition makes up approximately 1.1% of Governors Lane LP’s holdings, making the stock its 19th largest holding.

A number of other hedge funds also recently made changes to their positions in TACO. Sona Asset Management US LLC purchased a new stake in Berto Acquisition in the 1st quarter worth approximately $1,697,000. Berkley W R Corp boosted its position in shares of Berto Acquisition by 77.9% in the first quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator’s stock worth $18,682,000 after purchasing an additional 797,864 shares during the period. Levin Capital Strategies L.P. purchased a new stake in shares of Berto Acquisition in the first quarter worth $102,000. Cannon Global Investment Management LLC increased its stake in shares of Berto Acquisition by 12.7% in the first quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator’s stock worth $427,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Lineage Point Capital LP bought a new stake in shares of Berto Acquisition during the 4th quarter valued at $4,862,000.

Berto Acquisition Stock Performance

Shares of NASDAQ:TACO opened at $10.48 on Wednesday. The firm has a fifty day moving average price of $10.48 and a 200 day moving average price of $10.37. Berto Acquisition Corp. has a fifty-two week low of $10.11 and a fifty-two week high of $10.65.

Berto Acquisition (NASDAQ:TACO) last announced its quarterly earnings results on Friday, August 14th. The restaurant operator reported $0.03 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Berto Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 24th. Wall Street Zen lowered Berto Acquisition from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Berto Acquisition currently has a consensus rating of “Sell”.

About Berto Acquisition

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of August 31, 2021, it operated approximately 600 restaurants across 16 states. The company was founded in 1964 and is headquartered in Lake Forest, California.