PDT Partners LLC Trims Stock Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

PDT Partners LLC trimmed its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 36.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,289 shares of the restaurant operator’s stock after selling 50,059 shares during the period. PDT Partners LLC’s holdings in Arcos Dorados were worth $752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in Arcos Dorados by 431.0% in the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 2,629 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Arcos Dorados in the 2nd quarter valued at about $93,000. nVerses Capital LLC acquired a new stake in shares of Arcos Dorados in the 2nd quarter valued at about $105,000. Blue Trust Inc. grew its stake in Arcos Dorados by 24.6% during the 2nd 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 last quarter. Finally, MQS Management LLC acquired a new position in Arcos Dorados during the second quarter worth approximately $116,000. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Arcos Dorados Trading Up 1.0 %

Shares of Arcos Dorados stock opened at $8.17 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. The company has a market capitalization of $1.72 billion, a P/E ratio of 11.67, a PEG ratio of 2.55 and a beta of 1.16. Arcos Dorados Holdings Inc. has a 1 year low of $7.86 and a 1 year high of $13.20. The company’s fifty day moving average is $8.91 and its two-hundred day moving average is $9.17.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, November 13th. The restaurant operator reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $0.30 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Analysts forecast that Arcos Dorados Holdings Inc. will post 0.66 earnings per share for the current year.

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.