Global X MANAGEMENT CO LLC reduced its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 24.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 493,031 shares of the restaurant operator’s stock after selling 161,621 shares during the period. Global X MANAGEMENT CO LLC owned about 0.23% of Arcos Dorados Holdings worth $4,955,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ARCO. Stevens Capital Management LP bought a new stake in shares of Arcos Dorados Holdings in the second quarter worth $107,000. Moors & Cabot Inc. lifted its position in shares of Arcos Dorados Holdings by 4.9% in the second quarter. Moors & Cabot Inc. now owns 21,250 shares of the restaurant operator’s stock worth $159,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Arcos Dorados Holdings by 2.4% in the second quarter. Wells Fargo & Company MN now owns 24,201 shares of the restaurant operator’s stock worth $180,000 after purchasing an additional 570 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Arcos Dorados Holdings in the first quarter worth $261,000. Finally, KCG Holdings Inc. raised its position in Arcos Dorados Holdings by 27.7% during the first quarter. KCG Holdings Inc. now owns 32,895 shares of the restaurant operator’s stock worth $265,000 after acquiring an additional 7,134 shares in the last quarter. 37.08% of the stock is owned by hedge funds and other institutional investors.
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Several research firms recently commented on ARCO. BidaskClub downgraded shares of Arcos Dorados Holdings from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Arcos Dorados Holdings from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday. Finally, Citigroup Inc. raised shares of Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $10.10 to $10.60 in a research report on Monday, August 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $10.87.
Arcos Dorados Holdings Inc. (NYSE ARCO) traded down $0.25 during midday trading on Monday, reaching $10.25. 391,400 shares of the company traded hands, compared to its average volume of 627,251. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. Arcos Dorados Holdings Inc. has a twelve month low of $5.20 and a twelve month high of $10.80. The firm has a market cap of $2,163.49, a P/E ratio of 26.97, a P/E/G ratio of 2.01 and a beta of 2.07.
Arcos Dorados Holdings Profile
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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