MQS Management LLC acquired a new stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,843 shares of the restaurant operator’s stock, valued at approximately $116,000.
Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Arcos Dorados during the second quarter valued at approximately $93,000. nVerses Capital LLC purchased a new stake in Arcos Dorados during the 2nd quarter valued at $105,000. Adalta Capital Management LLC bought a new stake in shares of Arcos Dorados in the 1st quarter worth $111,000. Blue Trust Inc. raised its stake 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 purchasing an additional 2,427 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Arcos Dorados by 35.4% during the first quarter. Lazard Asset Management LLC now owns 11,557 shares of the restaurant operator’s stock valued at $128,000 after purchasing an additional 3,022 shares in the last quarter. 55.91% of the stock is owned by hedge funds and other institutional investors.
Arcos Dorados Price Performance
NYSE ARCO opened at $8.35 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.34 and a beta of 1.17. Arcos Dorados Holdings Inc. has a 1-year low of $8.08 and a 1-year high of $13.20. 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 business’s fifty day moving average price is $9.16 and its 200-day moving average price is $9.94.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. lowered their target price on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th.
Check Out Our Latest Research Report on ARCO
Arcos Dorados Company 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.
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