Short Interest in Arcos Dorados Holding Inc (NYSE:ARCO) Increases By 47.0%
Arcos Dorados Holding Inc (NYSE:ARCO) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,126,400 shares, a growth of 47.0% from the May 30th total of 766,200 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average trading volume of 471,300 shares, the days-to-cover ratio is presently 2.4 days.
Several hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of Arcos Dorados by 163.0% in the 4th quarter. LPL Financial LLC now owns 38,904 shares of the restaurant operator’s stock worth $307,000 after acquiring an additional 24,112 shares during the period. BlackRock Inc. grew its holdings in shares of Arcos Dorados by 37.0% in the 4th quarter. BlackRock Inc. now owns 807,519 shares of the restaurant operator’s stock worth $6,380,000 after acquiring an additional 218,178 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Arcos Dorados in the 4th quarter worth approximately $609,000. Northern Trust Corp grew its holdings in shares of Arcos Dorados by 12.6% in the 4th quarter. Northern Trust Corp now owns 213,054 shares of the restaurant operator’s stock worth $1,683,000 after acquiring an additional 23,898 shares during the period. Finally, Barclays PLC grew its holdings in shares of Arcos Dorados by 536.0% in the 4th quarter. Barclays PLC now owns 15,900 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 13,400 shares during the period. Hedge funds and other institutional investors own 38.10% of the company’s stock.
ARCO traded down $0.11 during trading on Thursday, reaching $7.93. 425,500 shares of the company’s stock were exchanged, compared to its average volume of 452,474. Arcos Dorados has a one year low of $5.92 and a one year high of $9.22. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 3.91. The stock has a market capitalization of $1.63 billion, a PE ratio of 44.06 and a beta of 1.01. The stock has a fifty day moving average price of $6.91.
ARCO has been the topic of a number of research reports. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. TheStreet lowered shares of UDR from a “b” rating to a “c” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on shares of Diageo and gave the stock a “neutral” rating in a report on Wednesday. Finally, ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.50.
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, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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