Verition Fund Management LLC Grows Stock Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Verition Fund Management LLC grew its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,867 shares of the restaurant operator’s stock after buying an additional 3,588 shares during the quarter. Verition Fund Management LLC’s holdings in Arcos Dorados were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ARCO. Quarry LP increased its stake in shares of Arcos Dorados by 431.0% during the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock worth $29,000 after buying an additional 2,629 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Arcos Dorados during the second quarter worth about $93,000. nVerses Capital LLC purchased a new position in Arcos Dorados during the 2nd quarter worth approximately $105,000. Blue Trust Inc. increased its position in Arcos Dorados by 24.6% during the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock worth $111,000 after buying an additional 2,427 shares during the period. Finally, MQS Management LLC purchased a new stake in Arcos Dorados in the second quarter valued at approximately $116,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Arcos Dorados Trading Up 0.9 %

NYSE:ARCO opened at $8.09 on Thursday. Arcos Dorados Holdings Inc. has a 12-month low of $7.86 and a 12-month high of $13.20. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. The stock’s 50 day simple moving average is $8.79 and its 200-day simple moving average is $9.06. The firm has a market cap of $1.70 billion, a P/E ratio of 11.56, a PEG ratio of 3.67 and a beta of 1.12.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that Arcos Dorados Holdings Inc. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price target on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, September 13th.

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.