West Tower Group LLC Buys 48,546 Shares of Arcos Dorados Holdings Inc. $ARCO

West Tower Group LLC raised its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 32.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 196,000 shares of the restaurant operator’s stock after buying an additional 48,546 shares during the period. Arcos Dorados comprises approximately 3.4% of West Tower Group LLC’s holdings, making the stock its 7th largest position. West Tower Group LLC’s holdings in Arcos Dorados were worth $1,546,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new position in Arcos Dorados during the 1st quarter valued at about $79,583,000. Pzena Investment Management LLC acquired a new position in Arcos Dorados during the 2nd quarter valued at about $51,549,000. Moerus Capital Management LLC grew its stake in shares of Arcos Dorados by 67.3% in the 1st quarter. Moerus Capital Management LLC now owns 3,552,013 shares of the restaurant operator’s stock worth $28,629,000 after purchasing an additional 1,429,338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Arcos Dorados by 3.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,402,735 shares of the restaurant operator’s stock worth $27,426,000 after purchasing an additional 121,750 shares during the last quarter. Finally, Fourth Sail Capital LP acquired a new position in shares of Arcos Dorados in the 1st quarter worth approximately $26,746,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

Shares of ARCO opened at $7.02 on Monday. Arcos Dorados Holdings Inc. has a one year low of $6.51 and a one year high of $9.63. The company has a 50-day moving average of $6.95 and a two-hundred day moving average of $7.26. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.80 and a quick ratio of 0.73.

Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Arcos Dorados had a net margin of 2.89% and a return on equity of 24.54%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. On average, equities research analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARCO. JPMorgan Chase & Co. cut shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $10.50 to $8.80 in a research note on Wednesday, July 2nd. Weiss Ratings cut shares of Arcos Dorados from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.80.

Arcos Dorados Company Profile

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.