Short Interest in Arcos Dorados Holdings Inc. (NYSE:ARCO) Drops By 7.6%

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARCO. Spire Wealth Management grew its holdings in shares of 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 last quarter. Navellier & Associates Inc. lifted its position in 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in Arcos Dorados by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock worth $89,000 after acquiring an additional 1,830 shares during the last quarter. Diligent Investors LLC increased its position in Arcos Dorados by 3.3% in the 4th quarter. Diligent Investors LLC now owns 72,478 shares of the restaurant operator’s stock valued at $528,000 after acquiring an additional 2,317 shares in the last quarter. Finally, Freedom Investment Management Inc. raised its stake in shares of Arcos Dorados by 10.6% in the fourth quarter. Freedom Investment Management Inc. now owns 35,689 shares of the restaurant operator’s stock worth $260,000 after acquiring an additional 3,427 shares during the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Price Performance

NYSE:ARCO opened at $8.33 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The firm has a market cap of $1.75 billion, a PE ratio of 11.89 and a beta of 1.13. Arcos Dorados has a 12 month low of $7.02 and a 12 month high of $12.13. The company’s 50-day moving average price is $7.63 and its two-hundred day moving average price is $8.44.

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.