Short Interest in Arcos Dorados Holdings Inc. (NYSE:ARCO) Drops By 7.6%

Arcos Dorados Holdings Inc. (NYSE:ARCO) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 2,310,000 shares, a drop of 7.6% from the January 15th total of 2,500,000 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is presently 1.7 days.

Hedge Funds Weigh In On Arcos Dorados

A number of hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new stake in Arcos Dorados in the fourth quarter valued at about $2,051,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Arcos Dorados in the 3rd quarter valued at approximately $1,557,000. Franklin Resources Inc. acquired a new position in shares of Arcos Dorados in the 3rd quarter worth approximately $12,101,000. Diamond Hill Capital Management Inc. bought a new position in shares of Arcos Dorados during the 3rd quarter worth approximately $925,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Arcos Dorados by 12.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 534,990 shares of the restaurant operator’s stock valued at $3,895,000 after buying an additional 58,453 shares in the last quarter. Institutional investors and hedge funds own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

Shares of ARCO traded down $0.15 on Tuesday, reaching $8.33. 1,636,950 shares of the stock traded hands, compared to its average volume of 1,334,866. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 11.89 and a beta of 1.13. Arcos Dorados has a 12 month low of $7.02 and a 12 month high of $12.13. The stock’s 50-day moving average price is $7.63 and its 200-day moving average price is $8.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57.

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.