Arcos Dorados Holdings Inc. $ARCO Shares Bought by Private Management Group Inc.

Private Management Group Inc. grew its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 6.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,379,280 shares of the restaurant operator’s stock after buying an additional 196,282 shares during the quarter. Private Management Group Inc. owned 1.60% of Arcos Dorados worth $22,810,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ARCO. Emeth Value Capital LLC raised its holdings in Arcos Dorados by 29.0% in the third quarter. Emeth Value Capital LLC now owns 1,973,667 shares of the restaurant operator’s stock valued at $13,322,000 after acquiring an additional 443,327 shares in the last quarter. Seafarer Capital Partners LLC grew its holdings in Arcos Dorados by 53.8% during the 3rd quarter. Seafarer Capital Partners LLC now owns 400,000 shares of the restaurant operator’s stock worth $2,700,000 after acquiring an additional 140,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in Arcos Dorados by 50.9% during the 2nd quarter. Franklin Resources Inc. now owns 3,907,929 shares of the restaurant operator’s stock worth $30,834,000 after acquiring an additional 1,319,031 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Arcos Dorados in the 2nd quarter valued at approximately $117,349,000. Finally, General American Investors Co. Inc. increased its position in shares of Arcos Dorados by 62.2% in the 3rd quarter. General American Investors Co. Inc. now owns 700,178 shares of the restaurant operator’s stock valued at $4,726,000 after purchasing an additional 268,484 shares during the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Price Performance

Shares of Arcos Dorados stock opened at $7.70 on Friday. 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 Holdings Inc. has a 52 week low of $6.51 and a 52 week high of $8.98. The firm’s 50 day moving average is $8.17 and its two-hundred day moving average is $7.49.

Wall Street Analysts Forecast Growth

ARCO has been the subject of several recent analyst reports. Wall Street Zen raised shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Zacks Research raised Arcos Dorados from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Arcos Dorados in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.70.

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.