Arco Platform (ARCE) Hits New 52-Week High at $33.61

Arco Platform Ltd (NASDAQ:ARCE) shares hit a new 52-week high on Monday . The stock traded as high as $33.61 and last traded at $32.80, with a volume of 1114 shares trading hands. The stock had previously closed at $32.63.

Separately, Zacks Investment Research downgraded shares of Arco Platform from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $27.00.

The company has a market cap of $683.27 million and a price-to-earnings ratio of 123.78.

Arco Platform (NASDAQ:ARCE) last announced its earnings results on Tuesday, March 19th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.08. The firm had revenue of $31.78 million during the quarter. As a group, equities research analysts anticipate that Arco Platform Ltd will post 0.67 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Arco Platform during the 4th quarter valued at about $159,000. Point72 Hong Kong Ltd acquired a new position in shares of Arco Platform during the 3rd quarter valued at about $204,000. Virtu Financial LLC acquired a new position in shares of Arco Platform during the 3rd quarter valued at about $266,000. BlueMountain Capital Management LLC acquired a new position in shares of Arco Platform during the 3rd quarter valued at about $342,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Arco Platform during the 3rd quarter valued at about $456,000.

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Arco Platform Company Profile (NASDAQ:ARCE)

Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.

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