Renaissance Technologies LLC Sells 504,147 Shares of Arcos Dorados Holdings Inc. $ARCO

Renaissance Technologies LLC reduced its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 48.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 545,587 shares of the restaurant operator’s stock after selling 504,147 shares during the quarter. Renaissance Technologies LLC’s holdings in Arcos Dorados were worth $4,501,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ARCO. Lazard Asset Management LLC increased its holdings in Arcos Dorados by 35.3% during the third quarter. Lazard Asset Management LLC now owns 20,128,477 shares of the restaurant operator’s stock worth $135,867,000 after buying an additional 5,255,199 shares during the last quarter. Sei Investments Co. boosted its stake in Arcos Dorados by 132.8% in the first quarter. Sei Investments Co. now owns 3,483,732 shares of the restaurant operator’s stock valued at $28,741,000 after acquiring an additional 1,987,271 shares during the last quarter. Brightlight Capital Management LP boosted its stake in Arcos Dorados by 55.2% in the fourth quarter. Brightlight Capital Management LP now owns 3,466,800 shares of the restaurant operator’s stock valued at $25,446,000 after acquiring an additional 1,232,800 shares during the last quarter. SPX Gestao de Recursos Ltda grew its position in shares of Arcos Dorados by 19.1% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 7,551,676 shares of the restaurant operator’s stock valued at $55,429,000 after acquiring an additional 1,209,055 shares during the period. Finally, Moerus Capital Management LLC grew its position in shares of Arcos Dorados by 19.9% during the 1st quarter. Moerus Capital Management LLC now owns 4,263,589 shares of the restaurant operator’s stock valued at $35,175,000 after acquiring an additional 706,683 shares during the period. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Price Performance

Shares of NYSE:ARCO opened at $8.32 on Friday. The firm has a market capitalization of $1.75 billion, a PE ratio of 7.50 and a beta of 0.48. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $8.34 and a two-hundred day moving average price of $8.40. Arcos Dorados Holdings Inc. has a twelve month low of $6.54 and a twelve month high of $9.75.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings results on Thursday, May 21st. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Arcos Dorados had a net margin of 4.86% and a return on equity of 10.47%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Equities analysts forecast that Arcos Dorados Holdings Inc. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

ARCO has been the topic of a number of research reports. Wall Street Zen raised shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. raised Arcos Dorados from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $10.50 in a report on Friday, July 17th. Santander raised Arcos Dorados to an “outperform” rating in a research report on Monday, April 20th. Zacks Research upgraded Arcos Dorados from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings lowered Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $10.50.

About Arcos Dorados

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.