Private Management Group Inc. Purchases 184,155 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Private Management Group Inc. raised its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,352,659 shares of the restaurant operator’s stock after purchasing an additional 184,155 shares during the quarter. Private Management Group Inc.’s holdings in Arcos Dorados were worth $20,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. TimesSquare Capital Management LLC raised its holdings in shares of Arcos Dorados by 25.8% in the first quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator’s stock valued at $16,302,000 after buying an additional 301,020 shares during the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados in the second quarter valued at approximately $16,463,000. Nordea Investment Management AB raised its position in Arcos Dorados by 33.5% in the 1st quarter. Nordea Investment Management AB now owns 458,355 shares of the restaurant operator’s stock worth $5,129,000 after purchasing an additional 115,118 shares during the last quarter. Marshall Wace LLP acquired a new position in Arcos Dorados during the 2nd quarter worth $7,128,000. Finally, Perpetual Ltd boosted its position in Arcos Dorados by 15.8% in the 3rd quarter. Perpetual Ltd now owns 1,636,470 shares of the restaurant operator’s stock valued at $14,270,000 after buying an additional 223,496 shares during the last quarter. Institutional investors and hedge funds own 55.91% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their target price on Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, September 13th.

Arcos Dorados Trading Down 3.7 %

Shares of NYSE ARCO traded down $0.33 during mid-day trading on Friday, hitting $8.48. The company’s stock had a trading volume of 968,829 shares, compared to its average volume of 1,211,661. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.63 and a quick ratio of 0.57. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The company’s fifty day simple moving average is $8.96 and its 200-day simple moving average is $9.54. Arcos Dorados Holdings Inc. has a one year low of $8.08 and a one year high of $13.20.

Arcos Dorados (NYSE:ARCO) last released its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Arcos Dorados Holdings Inc. will post 0.69 earnings per share for the current fiscal year.

About Arcos Dorados

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.