Y Intercept Hong Kong Ltd purchased a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO – Get Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 16,393 shares of the restaurant operator’s stock, valued at approximately $110,000.
Several other hedge funds have also recently modified their holdings of ARCO. Invesco Ltd. lifted its position in shares of Arcos Dorados by 12.5% during the 1st quarter. Invesco Ltd. now owns 21,962,867 shares of the restaurant operator’s stock worth $178,559,000 after buying an additional 2,435,111 shares in the last quarter. Moerus Capital Management LLC lifted its position in shares of Arcos Dorados by 20.6% during the 1st quarter. Moerus Capital Management LLC now owns 6,031,654 shares of the restaurant operator’s stock worth $49,037,000 after buying an additional 1,030,193 shares in the last quarter. Citigroup Inc. lifted its position in shares of Arcos Dorados by 577.7% during the 1st quarter. Citigroup Inc. now owns 1,050,645 shares of the restaurant operator’s stock worth $8,542,000 after buying an additional 895,621 shares in the last quarter. Emerging Variant Capital Management LP bought a new position in shares of Arcos Dorados during the 1st quarter worth approximately $8,130,000. Finally, Renaissance Technologies LLC bought a new position in shares of Arcos Dorados during the 1st quarter worth approximately $2,946,000. Institutional investors own 35.66% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on ARCO. StockNews.com cut shares of Arcos Dorados from a “strong-buy” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group raised their price target on shares of Arcos Dorados from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 30th. Finally, Barclays assumed coverage on shares of Arcos Dorados in a research note on Tuesday, September 27th. They set an “overweight” rating and a $9.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.75.
Arcos Dorados Stock Up 2.2 %
Arcos Dorados Company Profile
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.
- Get a free copy of the StockNews.com research report on Arcos Dorados (ARCO)
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