Acadian Asset Management LLC Sells 945,952 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Acadian Asset Management LLC lessened its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 40.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,364,194 shares of the restaurant operator’s stock after selling 945,952 shares during the period. Acadian Asset Management LLC owned 0.66% of Arcos Dorados worth $5,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ARCO. Advisor Group Holdings Inc. boosted its holdings in Arcos Dorados by 47.3% in the second quarter. Advisor Group Holdings Inc. now owns 9,632 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 3,092 shares during the last quarter. XTX Markets LLC bought a new position in Arcos Dorados in the third quarter valued at about $53,000. Quantitative Systematic Strategies LLC bought a new position in Arcos Dorados in the second quarter valued at about $58,000. HighTower Advisors LLC boosted its holdings in Arcos Dorados by 72.4% in the second quarter. HighTower Advisors LLC now owns 19,910 shares of the restaurant operator’s stock valued at $84,000 after acquiring an additional 8,362 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Arcos Dorados in the second quarter valued at about $87,000. Institutional investors and hedge funds own 33.17% of the company’s stock.

Several equities analysts recently issued reports on the company. TheStreet cut Arcos Dorados from a “c-” rating to a “d” rating in a report on Monday, August 31st. Zacks Investment Research upgraded Arcos Dorados from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Friday. Five research analysts have rated the stock with a buy rating, Arcos Dorados currently has an average rating of “Buy” and a consensus price target of $5.69.

Shares of ARCO opened at $4.67 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.96. Arcos Dorados Holdings Inc. has a 1 year low of $2.92 and a 1 year high of $8.29. The stock has a market cap of $966.56 million, a P/E ratio of -6.88 and a beta of 1.57. The stock’s 50-day moving average price is $4.29 and its two-hundred day moving average price is $4.31.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, November 11th. The restaurant operator reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.02. Arcos Dorados had a negative return on equity of 55.12% and a negative net margin of 6.50%. As a group, equities analysts forecast that Arcos Dorados Holdings Inc. will post -0.7 EPS for the current year.

Arcos Dorados Profile

Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.

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Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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