Arcos Dorados Holdings Inc. (NYSE:ARCO) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 6.2% in the third quarter, HoldingsChannel reports. The firm owned 61,867 shares of the restaurant operator’s stock after purchasing an additional 3,588 shares during the period. Verition Fund Management LLC’s holdings in Arcos Dorados were worth $539,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP boosted its stake in Arcos Dorados by 431.0% in the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 2,629 shares during the period. Bank of New York Mellon Corp bought a new stake in Arcos Dorados during the second quarter worth approximately $93,000. nVerses Capital LLC purchased a new stake in shares of Arcos Dorados during the second quarter valued at $105,000. Blue Trust Inc. increased its position in shares of Arcos Dorados by 24.6% in the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock worth $111,000 after acquiring an additional 2,427 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Arcos Dorados in the second quarter valued at $116,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price objective on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th.

Arcos Dorados Trading Up 0.9 %

Shares of NYSE:ARCO opened at $8.09 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $1.70 billion, a PE ratio of 11.56, a P/E/G ratio of 3.67 and a beta of 1.12. Arcos Dorados Holdings Inc. has a 1 year low of $7.86 and a 1 year high of $13.20. The firm has a fifty day moving average price of $8.79 and a 200 day moving average price of $9.06.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Wednesday, November 13th. The restaurant operator reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Arcos Dorados Holdings Inc. will post 0.65 EPS for the current fiscal 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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.