Sona Asset Management US LLC Invests $1.70 Million in Berto Acquisition Corp. $TACO

Key Points

• Sona Asset Management US LLC acquired 165,606 shares of Berto Acquisition (NASDAQ: TACO) in the first quarter, valued at approximately $1.70 million and representing about 0.51% of the company.
• Several other institutional investors increased or initiated positions, including Berkley W R Corp., which raised its stake by 77.9%, and Alpine Global Management, which increased holdings by 141.2%.
• TACO shares opened at $10.48, near their 50-day and 200-day moving averages, while the stock carries an overall “Sell” rating and recently reported quarterly EPS of $0.15.

Sona Asset Management US LLC acquired a new stake in shares of Berto Acquisition Corp. (NASDAQ:TACO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 165,606 shares of the restaurant operator's stock, valued at approximately $1,697,000. Sona Asset Management US LLC owned about 0.51% of Berto Acquisition as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TACO. Berkley W R Corp boosted its holdings in 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 last quarter. Levin Capital Strategies L.P. purchased a new stake in Berto Acquisition during the 1st quarter valued at $102,000. Cannon Global Investment Management LLC raised its stake in Berto Acquisition by 12.7% during the 1st quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator's stock valued at $427,000 after buying an additional 4,700 shares during the last quarter. Lineage Point Capital LP bought a new position in shares of Berto Acquisition during the 4th quarter valued at $4,862,000. Finally, Alpine Global Management LLC lifted its holdings in shares of Berto Acquisition by 141.2% during the 4th quarter. Alpine Global Management LLC now owns 300,000 shares of the restaurant operator's stock valued at $3,042,000 after buying an additional 175,597 shares during the period.

Berto Acquisition Stock Performance

Shares of NASDAQ:TACO opened at $10.48 on Monday. The firm's 50 day moving average price is $10.45 and its 200-day moving average price is $10.31. Berto Acquisition Corp. has a twelve month low of $10.11 and a twelve month high of $10.65.

Berto Acquisition (NASDAQ:TACO - Get Free Report) last announced its earnings results on Tuesday, March 31st. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Berto Acquisition in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Berto Acquisition has an average rating of "Sell".

• It Is Time To Take A Bite Out Of Del Taco Restaurants NASDAQ: TACO

Berto Acquisition Profile

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.

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