Catalyst Capital Advisors LLC Buys Shares of 80,000 Arcos Dorados Holdings Inc. (NYSE:ARCO)

Catalyst Capital Advisors LLC purchased a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 80,000 shares of the restaurant operator’s stock, valued at approximately $698,000.

Several other hedge funds also recently made changes to their positions in ARCO. Quarry LP boosted its holdings in Arcos Dorados by 431.0% during the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 2,629 shares during the last quarter. Adalta Capital Management LLC bought a new stake in Arcos Dorados during the 1st quarter worth about $111,000. Bank of New York Mellon Corp acquired a new position in shares of Arcos Dorados during the 2nd quarter worth about $93,000. Lazard Asset Management LLC grew its holdings in shares of Arcos Dorados by 35.4% in the 1st quarter. Lazard Asset Management LLC now owns 11,557 shares of the restaurant operator’s stock valued at $128,000 after acquiring an additional 3,022 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Arcos Dorados in the second quarter valued at about $105,000. 55.91% of the stock is owned by institutional investors.

Arcos Dorados Price Performance

Shares of ARCO opened at $8.54 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.52. The company’s fifty day simple moving average is $8.94 and its 200 day simple moving average is $9.49. Arcos Dorados Holdings Inc. has a 1-year low of $8.08 and a 1-year high of $13.20. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 2.58 and a beta of 1.16.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned $0.14 EPS. Arcos Dorados’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts forecast that Arcos Dorados Holdings Inc. will post 0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Arcos Dorados 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.