Absolute Gestao de Investimentos Ltda. reduced its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO – Free Report) by 13.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,758,907 shares of the restaurant operator’s stock after selling 272,170 shares during the period. Arcos Dorados comprises approximately 8.2% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 4th largest holding. Absolute Gestao de Investimentos Ltda. owned about 0.83% of Arcos Dorados worth $15,830,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its holdings in shares of Arcos Dorados by 9.0% in the 2nd quarter. Squarepoint Ops LLC now owns 24,690 shares of the restaurant operator’s stock worth $222,000 after acquiring an additional 2,034 shares during the period. Marshall Wace LLP bought a new position in Arcos Dorados during the 2nd quarter valued at $7,128,000. Magnetar Financial LLC bought a new position in Arcos Dorados during the second quarter valued at about $150,000. MQS Management LLC acquired a new position in Arcos Dorados during the second quarter worth about $116,000. Finally, XTX Topco Ltd boosted its position in shares of Arcos Dorados by 54.9% during the 2nd quarter. XTX Topco Ltd now owns 44,843 shares of the restaurant operator’s stock valued at $404,000 after purchasing an additional 15,888 shares in the last quarter. 55.91% of the stock is currently owned by institutional investors.
Arcos Dorados Stock Up 2.0 %
NYSE:ARCO opened at $8.46 on Wednesday. The business’s fifty day moving average price is $9.10 and its 200 day moving average price is $9.89. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.47 and a beta of 1.17. Arcos Dorados Holdings Inc. has a 1-year low of $8.08 and a 1-year high of $13.20.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. decreased their target price on Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, September 13th.
Get Our Latest Analysis on Arcos Dorados
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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.
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