Fred Alger Management LLC lessened its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO – Free Report) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,781 shares of the restaurant operator’s stock after selling 1,923 shares during the period. Fred Alger Management LLC’s holdings in Arcos Dorados were worth $443,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Sail Capital LP bought a new stake in Arcos Dorados in the 2nd quarter valued at $16,463,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Arcos Dorados in the third quarter valued at about $1,557,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Arcos Dorados in the third quarter valued at about $925,000. Marshall Wace LLP acquired a new position in shares of Arcos Dorados in the second quarter valued at about $7,128,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Arcos Dorados in the 3rd quarter worth about $698,000. Institutional investors and hedge funds own 55.91% of the company’s stock.
Arcos Dorados Price Performance
Shares of NYSE ARCO opened at $8.09 on Monday. The business has a fifty day moving average price of $8.91 and a two-hundred day moving average price of $9.18. The stock has a market capitalization of $1.70 billion, a PE ratio of 11.56, a P/E/G ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. Arcos Dorados Holdings Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $13.20.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. decreased 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 report on Friday, September 13th.
Check Out Our Latest Research Report on Arcos Dorados
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.
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