Diamond Hill Capital Management Inc. Takes $925,000 Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Diamond Hill Capital Management Inc. acquired a new stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 106,081 shares of the restaurant operator's stock, valued at approximately $925,000. Diamond Hill Capital Management Inc. owned about 0.05% of Arcos Dorados at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its stake in shares of Arcos Dorados by 431.0% in 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 period. Bank of New York Mellon Corp acquired a new stake in Arcos Dorados during the second quarter valued at approximately $93,000. nVerses Capital LLC acquired a new stake in Arcos Dorados during the second quarter valued at approximately $105,000. Adalta Capital Management LLC acquired a new stake in Arcos Dorados during the first quarter valued at approximately $111,000. Finally, Blue Trust Inc. boosted its holdings in Arcos Dorados by 24.6% during the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator's stock valued at $111,000 after purchasing an additional 2,427 shares in the last quarter. Institutional investors and hedge funds own 55.91% of the company's stock.

Arcos Dorados Trading Up 0.8 %

ARCO stock traded up $0.07 during trading on Tuesday, hitting $8.40. The company had a trading volume of 1,010,443 shares, compared to its average volume of 1,210,125. The firm has a 50-day moving average price of $8.92 and a 200-day moving average price of $9.42. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 2.59 and a beta of 1.16. Arcos Dorados Holdings Inc. has a 12 month low of $8.08 and a 12 month high of $13.20. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. Arcos Dorados's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. As a group, analysts predict that Arcos Dorados Holdings Inc. will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.