PDT Partners LLC Acquires 101,115 Shares of Arcos Dorados Holdings Inc. $ARCO

Key Points

• PDT Partners LLC increased its stake in Arcos Dorados Holdings Inc. by 34.7%, acquiring an additional 101,115 shares to own approximately 392,673 shares valued at $3.16 million.
• JPMorgan Chase & Co. downgraded Arcos Dorados from an "overweight" to a "neutral" rating, lowering the price target from $10.50 to $8.80.
• Arcos Dorados reported a net margin of 2.89% for the last quarter, with a revenue of $1.14 billion, although it was below the anticipated $1.22 billion.

PDT Partners LLC increased its position in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 34.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,673 shares of the restaurant operator's stock after acquiring an additional 101,115 shares during the quarter. PDT Partners LLC owned about 0.19% of Arcos Dorados worth $3,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Arcos Dorados during the 1st quarter worth about $79,583,000. Moerus Capital Management LLC increased its holdings in shares of Arcos Dorados by 67.3% during the 1st quarter. Moerus Capital Management LLC now owns 3,552,013 shares of the restaurant operator's stock worth $28,629,000 after purchasing an additional 1,429,338 shares during the period. Fourth Sail Capital LP bought a new position in shares of Arcos Dorados during the 1st quarter worth about $26,746,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Arcos Dorados by 96.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,280,985 shares of the restaurant operator's stock worth $23,886,000 after purchasing an additional 1,606,821 shares during the period. Finally, Private Management Group Inc. increased its holdings in shares of Arcos Dorados by 1.2% during the 1st quarter. Private Management Group Inc. now owns 3,205,913 shares of the restaurant operator's stock worth $25,840,000 after purchasing an additional 38,056 shares during the period. Institutional investors own 55.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded shares of Arcos Dorados from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $10.50 to $8.80 in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $8.80.

Arcos Dorados Price Performance

NYSE:ARCO traded up $0.08 on Friday, reaching $7.00. The stock had a trading volume of 793,610 shares, compared to its average volume of 1,435,123. The company has a market capitalization of $1.47 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.63. Arcos Dorados Holdings Inc. has a 1-year low of $6.51 and a 1-year high of $10.27. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.62. The stock has a fifty day moving average price of $7.20 and a 200-day moving average price of $7.53.

Arcos Dorados (NYSE:ARCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. Arcos Dorados had a net margin of 2.89% and a return on equity of 24.54%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

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.