Arcos Dorados Holdings Inc. (NYSE:ARCO) Sees Significant Drop in Short Interest

Arcos Dorados Holdings Inc. (NYSE:ARCO) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 4,440,051 shares, a decrease of 13.0% from the January 15th total of 5,101,066 shares. Based on an average daily volume of 1,568,946 shares, the days-to-cover ratio is presently 2.8 days. Based on an average daily volume of 1,568,946 shares, the days-to-cover ratio is presently 2.8 days.

Arcos Dorados Price Performance

NYSE:ARCO opened at $8.47 on Thursday. 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 has a one year low of $6.51 and a one year high of $8.97. The stock has a 50-day simple moving average of $7.79 and a 200 day simple moving average of $7.33.

Wall Street Analysts Forecast Growth

ARCO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arcos Dorados in a research report on Monday, December 29th. Zacks Research raised Arcos Dorados from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Finally, Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Arcos Dorados presently has a consensus rating of “Hold” and a consensus target price of $8.70.

Hedge Funds Weigh In On Arcos Dorados

Several large investors have recently added to or reduced their stakes in ARCO. Royal Bank of Canada increased its stake in Arcos Dorados by 23.1% during the first quarter. Royal Bank of Canada now owns 538,925 shares of the restaurant operator’s stock valued at $4,344,000 after purchasing an additional 101,301 shares during the last quarter. Jane Street Group LLC grew its position in shares of Arcos Dorados by 58.3% during the 1st 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 raised its stake in Arcos Dorados by 32.9% during the second quarter. West Tower Group LLC now owns 196,000 shares of the restaurant operator’s stock worth $1,546,000 after acquiring an additional 48,546 shares during the period. Bleakley Financial Group LLC raised its stake in Arcos Dorados by 3.9% during the second quarter. Bleakley Financial Group LLC now owns 215,971 shares of the restaurant operator’s stock worth $1,704,000 after acquiring an additional 8,112 shares during the period. Finally, R Squared Ltd lifted its holdings in Arcos Dorados by 66.8% in the second 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 during the last quarter. 55.91% of the stock is currently owned by institutional investors.

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.