Harbour Capital Advisors LLC Buys Shares of 92,155 Arcos Dorados Holdings Inc. (NYSE:ARCO)

Harbour Capital Advisors LLC bought a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 92,155 shares of the restaurant operator's stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Deltec Asset Management LLC raised its stake in Arcos Dorados by 1.2% during the 1st quarter. Deltec Asset Management LLC now owns 168,538 shares of the restaurant operator's stock valued at $1,358,000 after acquiring an additional 2,000 shares during the last quarter. O Keefe Stevens Advisory Inc. raised its stake in shares of Arcos Dorados by 0.4% during the first quarter. O Keefe Stevens Advisory Inc. now owns 506,247 shares of the restaurant operator's stock worth $4,080,000 after purchasing an additional 2,058 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Arcos Dorados by 53.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 289,153 shares of the restaurant operator's stock worth $2,105,000 after purchasing an additional 100,461 shares during the period. PharVision Advisers LLC purchased a new position in Arcos Dorados in the 4th quarter valued at $350,000. Finally, Voloridge Investment Management LLC increased its stake in Arcos Dorados by 3.6% in the 4th quarter. Voloridge Investment Management LLC now owns 900,088 shares of the restaurant operator's stock valued at $6,553,000 after buying an additional 31,010 shares during the period. Hedge funds and other institutional investors own 55.91% of the company's stock.

Arcos Dorados Price Performance

Arcos Dorados stock traded down $0.03 during midday trading on Wednesday, reaching $7.62. The company's stock had a trading volume of 1,023,787 shares, compared to its average volume of 1,385,634. The firm has a market capitalization of $1.61 billion, a PE ratio of 11.72 and a beta of 0.62. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $10.55. The stock's 50 day simple moving average is $7.57 and its 200 day simple moving average is $7.68. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.81 and a current ratio of 0.86.

Arcos Dorados (NYSE:ARCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The restaurant operator reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.02 billion. Arcos Dorados had a net margin of 3.00% and a return on equity of 26.70%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities research analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Arcos Dorados Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, June 25th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, June 24th. This represents a yield of 3.13%. Arcos Dorados's payout ratio is 36.92%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Arcos Dorados from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th.

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.