Zacks Investment Research downgraded shares of Arco Platform (NASDAQ:ARCE) from a hold rating to a sell rating in a research note published on Monday morning, Zacks.com reports.

According to Zacks, “Arco Platform Limited develops educational software. The Company offers a platform which delivers educational content in printed and digital formats. Arco Platform Limited is based in Vila Olimpia Sao Paulo, Brazil. “

Shares of NASDAQ ARCE opened at $29.49 on Monday. The company has a market cap of $637.08 million and a PE ratio of 109.22. Arco Platform has a 12 month low of $17.68 and a 12 month high of $34.12.

Arco Platform (NASDAQ:ARCE) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The firm had revenue of $31.78 million for the quarter. Research analysts forecast that Arco Platform will post 0.67 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Arco Platform during the 4th quarter worth approximately $159,000. BlueMountain Capital Management LLC acquired a new stake in shares of Arco Platform during the 3rd quarter worth approximately $342,000. Point72 Asset Management L.P. purchased a new position in shares of Arco Platform during the 3rd quarter valued at approximately $684,000. Norges Bank purchased a new position in shares of Arco Platform during the 4th quarter valued at approximately $885,000. Finally, UBS Oconnor LLC lifted its position in shares of Arco Platform by 125.9% during the 4th quarter. UBS Oconnor LLC now owns 45,181 shares of the company’s stock valued at $999,000 after buying an additional 25,181 shares in the last quarter.

About Arco Platform

Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.

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