Arcos Dorados Holdings Inc. (NYSE:ARCO) Stake Cut by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 92.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 24,416 shares of the restaurant operator’s stock after selling 301,413 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Arcos Dorados were worth $220,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in Arcos Dorados by 9.0% in the 2nd quarter. Squarepoint Ops LLC now owns 24,690 shares of the restaurant operator’s stock worth $222,000 after purchasing an additional 2,034 shares during the last quarter. Americana Partners LLC increased its holdings in shares of Arcos Dorados by 15.0% during the 2nd quarter. Americana Partners LLC now owns 17,204 shares of the restaurant operator’s stock valued at $155,000 after acquiring an additional 2,240 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Arcos Dorados by 24.6% during the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock valued at $111,000 after acquiring an additional 2,427 shares during the last quarter. Quarry LP increased its holdings in shares of Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 2,629 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Arcos Dorados by 35.4% during the 1st quarter. Lazard Asset Management LLC now owns 11,557 shares of the restaurant operator’s stock valued at $128,000 after acquiring an additional 3,022 shares during the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Stock Performance

ARCO opened at $9.93 on Tuesday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17. The stock’s 50 day moving average price is $9.05 and its two-hundred day moving average price is $9.70. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52. Arcos Dorados Holdings Inc. has a 12-month low of $8.08 and a 12-month high of $13.20.

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

Wall Street Analysts Forecast Growth

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

Arcos Dorados 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.