Granite Point Capital Management L.P. acquired a new stake in shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,500 shares of the restaurant operator’s stock, valued at approximately $913,000. Granite Point Capital Management L.P. owned about 0.15% of Del Taco Restaurants as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP increased its position in Del Taco Restaurants by 82.2% in the third quarter. Royce & Associates LP now owns 760,571 shares of the restaurant operator’s stock worth $11,667,000 after buying an additional 343,171 shares in the last quarter. RK Capital Management LLC increased its position in Del Taco Restaurants by 10.0% in the third quarter. RK Capital Management LLC now owns 759,187 shares of the restaurant operator’s stock worth $11,646,000 after buying an additional 68,800 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Del Taco Restaurants by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,288,964 shares of the restaurant operator’s stock worth $35,113,000 after buying an additional 345,199 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Del Taco Restaurants by 42.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 70,495 shares of the restaurant operator’s stock worth $1,082,000 after buying an additional 20,895 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Del Taco Restaurants by 215.9% in the third quarter. Wells Fargo & Company MN now owns 80,673 shares of the restaurant operator’s stock worth $1,238,000 after buying an additional 55,138 shares in the last quarter. Institutional investors own 81.39% of the company’s stock.

Shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) opened at $12.04 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.24 and a current ratio of 0.29. Del Taco Restaurants, Inc. has a 1 year low of $11.58 and a 1 year high of $15.99. The stock has a market capitalization of $474.18, a PE ratio of 22.29, a P/E/G ratio of 1.36 and a beta of -0.29.

Del Taco Restaurants (NASDAQ:TACO) last released its earnings results on Thursday, October 19th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 5.89% and a net margin of 4.78%. The firm had revenue of $110.99 million during the quarter, compared to analysts’ expectations of $110.46 million. During the same quarter last year, the business posted $0.13 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. analysts forecast that Del Taco Restaurants, Inc. will post 0.54 EPS for the current fiscal year.

In other Del Taco Restaurants news, Director Lawrence F. Levy bought 200,000 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was purchased at an average price of $12.54 per share, for a total transaction of $2,508,000.00. Following the completion of the transaction, the director now owns 18,356 shares of the company’s stock, valued at approximately $230,184.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.60% of the company’s stock.

A number of brokerages have commented on TACO. TheStreet cut Del Taco Restaurants from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Wedbush restated a “buy” rating and issued a $17.00 price target on shares of Del Taco Restaurants in a research report on Friday, October 20th. Maxim Group restated a “buy” rating and issued a $19.00 price target on shares of Del Taco Restaurants in a research report on Friday, October 20th. BTIG Research reduced their price target on Del Taco Restaurants from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, October 20th. Finally, Zacks Investment Research cut Del Taco Restaurants from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.67.

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About Del Taco Restaurants

Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.

Institutional Ownership by Quarter for Del Taco Restaurants (NASDAQ:TACO)

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