Arcos Dorados Holdings Inc. (NYSE:ARCO) Sees Significant Drop in Short Interest

Arcos Dorados Holdings Inc. (NYSE:ARCO) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,310,000 shares, a decline of 7.6% from the January 15th total of 2,500,000 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.9% of the shares of the stock are short sold.

Arcos Dorados Trading Up 0.8 %

Shares of ARCO traded up $0.07 on Monday, hitting $8.46. 777,216 shares of the stock traded hands, compared to its average volume of 1,355,716. Arcos Dorados has a 1 year low of $7.02 and a 1 year high of $12.13. The stock’s 50 day moving average is $7.63 and its two-hundred day moving average is $8.44. The firm has a market capitalization of $1.78 billion, a P/E ratio of 12.08 and a beta of 1.13. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40.

Institutional Investors Weigh In On Arcos Dorados

A number of hedge funds and other institutional investors have recently made changes to their positions in ARCO. Spire Wealth Management raised its stake in Arcos Dorados by 27.2% during the fourth quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 1,540 shares during the period. Navellier & Associates Inc. increased its holdings in shares of Arcos Dorados by 8.3% during the 4th quarter. Navellier & Associates Inc. now owns 22,258 shares of the restaurant operator’s stock worth $162,000 after buying an additional 1,700 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Arcos Dorados by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock worth $89,000 after buying an additional 1,830 shares during the period. Diligent Investors LLC raised its position in shares of Arcos Dorados by 3.3% in the 4th quarter. Diligent Investors LLC now owns 72,478 shares of the restaurant operator’s stock worth $528,000 after buying an additional 2,317 shares during the period. Finally, Freedom Investment Management Inc. boosted its holdings in Arcos Dorados by 10.6% in the fourth quarter. Freedom Investment Management Inc. now owns 35,689 shares of the restaurant operator’s stock valued at $260,000 after acquiring an additional 3,427 shares during the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Arcos Dorados Company 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.