Private Management Group Inc. Has $20.52 Million Stock Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Private Management Group Inc. lifted its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,352,659 shares of the restaurant operator's stock after purchasing an additional 184,155 shares during the period. Private Management Group Inc. owned 1.12% of Arcos Dorados worth $20,515,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. TimesSquare Capital Management LLC boosted its holdings in Arcos Dorados by 25.8% during the first quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator's stock worth $16,302,000 after buying an additional 301,020 shares during the last quarter. Fourth Sail Capital LP acquired a new position in Arcos Dorados during the second quarter valued at approximately $16,463,000. Nordea Investment Management AB increased its stake in Arcos Dorados by 33.5% in the first quarter. Nordea Investment Management AB now owns 458,355 shares of the restaurant operator's stock valued at $5,129,000 after purchasing an additional 115,118 shares in the last quarter. Marshall Wace LLP acquired a new stake in Arcos Dorados in the second quarter worth $7,128,000. Finally, Perpetual Ltd boosted its position in shares of Arcos Dorados by 15.8% during the third quarter. Perpetual Ltd now owns 1,636,470 shares of the restaurant operator's stock worth $14,270,000 after purchasing an additional 223,496 shares in the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Stock Down 3.7 %

ARCO stock traded down $0.33 during mid-day trading on Friday, hitting $8.48. 968,829 shares of the company were exchanged, compared to its average volume of 1,211,661. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.57 and a current ratio of 0.63. Arcos Dorados Holdings Inc. has a 1-year low of $8.08 and a 1-year high of $13.20. The firm's 50 day simple moving average is $8.96 and its 200 day simple moving average is $9.54. The firm has a market cap of $1.79 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.71 and a beta of 1.17.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. On average, sell-side analysts predict that Arcos Dorados Holdings Inc. will post 0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price objective on shares of 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.