Engineers Gate Manager LP Purchases 290,399 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Engineers Gate Manager LP boosted its position in Arcos Dorados Holdings Inc. (NYSE:ARCOGet Rating) by 470.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 352,181 shares of the restaurant operator’s stock after acquiring an additional 290,399 shares during the period. Engineers Gate Manager LP owned 0.17% of Arcos Dorados worth $2,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new position in Arcos Dorados in the first quarter worth approximately $66,000. Advisor Group Holdings Inc. raised its stake in shares of Arcos Dorados by 37.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 17,543 shares of the restaurant operator’s stock worth $102,000 after purchasing an additional 4,741 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Arcos Dorados in the fourth quarter worth approximately $120,000. Fox Run Management L.L.C. purchased a new stake in shares of Arcos Dorados in the first quarter worth approximately $191,000. Finally, XTX Topco Ltd purchased a new stake in shares of Arcos Dorados in the first quarter worth approximately $209,000. Institutional investors own 35.66% of the company’s stock.

Analysts Set New Price Targets

ARCO has been the subject of several analyst reports. StockNews.com raised Arcos Dorados from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 31st. Bradesco Corretora raised Arcos Dorados from a “neutral” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Wednesday, June 15th. Finally, The Goldman Sachs Group increased their price objective on Arcos Dorados from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 30th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Arcos Dorados presently has a consensus rating of “Buy” and a consensus price target of $9.90.

Arcos Dorados Stock Performance

Shares of ARCO opened at $7.58 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 3.49. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.45 and a beta of 1.18. The stock has a 50 day moving average of $7.17 and a 200 day moving average of $7.37. Arcos Dorados Holdings Inc. has a 12 month low of $4.33 and a 12 month high of $8.44.

Arcos Dorados (NYSE:ARCOGet Rating) last issued its quarterly earnings results on Wednesday, August 10th. The restaurant operator reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Arcos Dorados had a net margin of 3.43% and a return on equity of 52.60%. During the same period in the previous year, the company earned $0.03 EPS. As a group, sell-side analysts forecast that Arcos Dorados Holdings Inc. will post 0.49 earnings per share for the current year.

Arcos Dorados Profile

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Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. The company 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.

Further Reading

Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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