Emerald Acquisition Ltd. Acquires Shares of 793,824 Arcos Dorados Holdings Inc. (ARCO)
Emerald Acquisition Ltd. acquired a new position in Arcos Dorados Holdings Inc. (NYSE:ARCO) during the second quarter, Holdings Channel reports. The fund acquired 793,824 shares of the company’s stock, valued at approximately $3,787,000. Emerald Acquisition Ltd. owned about 0.38% of Arcos Dorados Holdings at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Eqis Capital Management Inc. acquired a new stake in Arcos Dorados Holdings during the second quarter worth $161,000. Fis Group Inc. acquired a new stake in Arcos Dorados Holdings during the second quarter worth $398,000. Diversified Investment Strategies LLC boosted its stake in Arcos Dorados Holdings by 1.6% in the first quarter. Diversified Investment Strategies LLC now owns 145,000 shares of the company’s stock worth $544,000 after buying an additional 2,300 shares during the last quarter. BlackRock Inc. boosted its stake in Arcos Dorados Holdings by 0.4% in the first quarter. BlackRock Inc. now owns 206,371 shares of the company’s stock worth $774,000 after buying an additional 800 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Arcos Dorados Holdings during the second quarter worth $1,321,000. 37.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) traded down 0.92% during mid-day trading on Wednesday, reaching $5.36. The company’s stock had a trading volume of 733,943 shares. The company’s 50-day moving average is $5.31 and its 200-day moving average is $4.60. Arcos Dorados Holdings Inc. has a 52 week low of $2.16 and a 52 week high of $5.99. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 41.23 and a beta of 2.02.
Arcos Dorados Holdings (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.23. Arcos Dorados Holdings had a return on equity of 9.51% and a net margin of 1.02%. The business had revenue of $687.30 million for the quarter, compared to analyst estimates of $664.55 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. Equities analysts predict that Arcos Dorados Holdings Inc. will post $0.21 EPS for the current year.
A number of analysts have commented on the company. TheStreet raised Arcos Dorados Holdings from a “sell” rating to a “hold” rating in a research report on Monday, August 15th. Zacks Investment Research cut Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th.
About Arcos Dorados Holdings
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company, through its wholly owned and majority owned subsidiaries, operates and franchises McDonald’s restaurants in the food service industry. The Company manages its business as distinct geographic segments and its operations are divided into four geographical divisions: the Brazil; the Caribbean division, consisting of Aruba, Curacao, Colombia, French Guyana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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