TimesSquare Capital Management LLC Sells 216,950 Shares of Arcos Dorados Holdings Inc. $ARCO

TimesSquare Capital Management LLC trimmed its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 656,752 shares of the restaurant operator’s stock after selling 216,950 shares during the quarter. TimesSquare Capital Management LLC owned 0.31% of Arcos Dorados worth $4,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of Arcos Dorados by 23.1% in the 1st quarter. Royal Bank of Canada now owns 538,925 shares of the restaurant operator’s stock valued at $4,344,000 after acquiring an additional 101,301 shares during the period. Jane Street Group LLC lifted its position in shares of Arcos Dorados by 58.3% during the first quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator’s stock valued at $2,497,000 after buying an additional 114,034 shares during the last quarter. West Tower Group LLC boosted its holdings in shares of Arcos Dorados by 32.9% in the 2nd quarter. West Tower Group LLC now owns 196,000 shares of the restaurant operator’s stock valued at $1,546,000 after buying an additional 48,546 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Arcos Dorados by 3.9% in the 2nd quarter. Bleakley Financial Group LLC now owns 215,971 shares of the restaurant operator’s stock worth $1,704,000 after buying an additional 8,112 shares during the last quarter. Finally, R Squared Ltd raised its stake in shares of Arcos Dorados by 66.8% during the 2nd quarter. R Squared Ltd now owns 19,681 shares of the restaurant operator’s stock worth $155,000 after acquiring an additional 7,881 shares in the last quarter. 55.91% of the stock is currently owned by institutional investors.

Arcos Dorados Stock Performance

Arcos Dorados stock opened at $8.39 on Monday. The business’s 50-day simple moving average is $7.72 and its two-hundred day simple moving average is $7.30. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 1.32. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $8.97.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ARCO shares. Wall Street Zen raised shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Arcos Dorados in a research note on Monday, December 29th. Zacks Research raised Arcos Dorados from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. lowered their price target on Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.70.

Arcos Dorados Profile

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.