Stock Traders Purchase High Volume of Call Options on Del Taco Restaurants (NASDAQ:TACO)

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Del Taco Restaurants, Inc. (NASDAQ:TACO) saw some unusual options trading on Thursday. Traders acquired 682 call options on the company. This is an increase of approximately 702% compared to the typical daily volume of 85 call options.

Del Taco Restaurants stock opened at $9.06 on Friday. The firm has a 50-day moving average of $8.98 and a 200-day moving average of $8.00. Del Taco Restaurants has a one year low of $2.45 and a one year high of $10.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.27 and a quick ratio of 0.24. The company has a market cap of $338.16 million, a price-to-earnings ratio of -1.59 and a beta of 1.79.

Del Taco Restaurants (NASDAQ:TACO) last issued its earnings results on Thursday, October 15th. The restaurant operator reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.06. Del Taco Restaurants had a negative net margin of 42.94% and a positive return on equity of 5.28%. The business had revenue of $120.78 million during the quarter, compared to the consensus estimate of $120.36 million. As a group, sell-side analysts expect that Del Taco Restaurants will post 0.29 earnings per share for the current year.

In related news, Director Ari B. Levy purchased 30,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were bought at an average price of $7.39 per share, with a total value of $221,700.00. Following the purchase, the director now directly owns 444,716 shares in the company, valued at approximately $3,286,451.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen A. Aptman purchased 88,952 shares of the business’s stock in a transaction dated Thursday, December 10th. The stock was bought at an average cost of $7.40 per share, for a total transaction of $658,244.80. Following the purchase, the director now owns 45,511 shares in the company, valued at $336,781.40. The disclosure for this purchase can be found here. In the last three months, insiders bought 164,452 shares of company stock worth $1,224,965. 16.50% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System lifted its stake in Del Taco Restaurants by 4.3% in the 3rd quarter. California Public Employees Retirement System now owns 68,635 shares of the restaurant operator’s stock valued at $563,000 after purchasing an additional 2,800 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Del Taco Restaurants by 454.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,316 shares of the restaurant operator’s stock valued at $60,000 after purchasing an additional 5,996 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Del Taco Restaurants in the 3rd quarter valued at about $74,000. Aigen Investment Management LP lifted its position in Del Taco Restaurants by 117.5% during the third quarter. Aigen Investment Management LP now owns 23,322 shares of the restaurant operator’s stock worth $191,000 after acquiring an additional 12,600 shares during the last quarter. Finally, Man Group plc acquired a new stake in Del Taco Restaurants during the second quarter worth approximately $87,000. Institutional investors and hedge funds own 67.28% of the company’s stock.

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Del Taco Restaurants from a “buy” rating to a “hold” rating in a research report on Tuesday, November 17th. CL King upped their price objective on shares of Del Taco Restaurants from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Piper Sandler upped their price objective on shares of Del Taco Restaurants from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Wedbush increased their target price on Del Taco Restaurants from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Finally, Jefferies Financial Group increased their target price on Del Taco Restaurants from $8.50 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.33.

About Del Taco Restaurants

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 October 15, 2020, it operated approximately 600 restaurants across 15 states.

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