StoneX Group Inc. Makes New $5.36 Million Investment in Berto Acquisition Corp. $TACO

Key Points

• StoneX Group bought 511,808 shares of Berto Acquisition in the third quarter, worth about $5.36 million and representing roughly 1.57% of the company.
• Analyst sentiment is negative: MarketBeat reports an average Sell rating, with one analyst rating the stock Sell.
• TACO opened at $10.51; its 12-month trading range is $10.11–$10.59. Berto Acquisition is a SPAC that is seeking a business combination.

StoneX Group Inc. bought a new stake in shares of Berto Acquisition Corp. (NASDAQ:TACO - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 511,808 shares of the restaurant operator's stock, valued at approximately $5,355,000. StoneX Group Inc. owned about 1.57% of Berto Acquisition at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TACO. Governors Lane LP bought a new position in shares of Berto Acquisition in the 2nd quarter worth about $14,162,000. Berkley W R Corp grew its position in shares of Berto Acquisition by 77.9% during the 1st quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator's stock valued at $18,682,000 after buying an additional 797,864 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in shares of Berto Acquisition during the 2nd quarter valued at about $4,549,000. Sona Asset Management US LLC acquired a new stake in Berto Acquisition during the first quarter worth about $1,697,000. Finally, Levin Capital Strategies L.P. acquired a new stake in Berto Acquisition during the first quarter worth about $102,000.

Wall Street Analyst Weigh In

TACO has been the topic of a number of recent research reports. Weiss Ratings raised shares of Berto Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, August 24th. Wall Street Zen downgraded Berto Acquisition from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of "Sell".

Berto Acquisition Stock Down 0.0%

TACO opened at $10.51 on Friday. The business's 50 day moving average is $10.47 and its 200-day moving average is $10.38. Berto Acquisition Corp. has a twelve month low of $10.11 and a twelve month high of $10.59.

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Berto Acquisition (NASDAQ:TACO - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The restaurant operator reported $0.03 earnings per share (EPS) for the quarter.

Berto Acquisition Company Profile

Berto Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq Capital Market under the ticker symbol TACO. The company was formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition or similar transaction, with an operating business.

As a blank-check company, Berto Acquisition does not have an established operating business, product portfolio or customer-facing services of its own. Its activities primarily involve evaluating potential acquisition targets and pursuing the transaction and regulatory requirements associated with becoming a publicly traded operating company.

Publicly available information does not indicate that Berto Acquisition has completed a business combination or established operations in specific geographic markets.

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