Arco Platform (NASDAQ:ARCE) Shares Gap Up to $11.95

Posted by on Aug 13th, 2023

Arco Platform Limited (NASDAQ:ARCE – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $11.95, but opened at $13.75. Arco Platform shares last traded at $13.80, with a volume of 1,050,226 shares changing hands.

Arco Platform Stock Performance

The company has a 50-day moving average price of $12.44 and a two-hundred day moving average price of $12.30. The stock has a market capitalization of $765.41 million, a P/E ratio of 273.80 and a beta of 0.50. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.66.

Arco Platform (NASDAQ:ARCE – Get Free Report) last announced its quarterly earnings results on Thursday, May 25th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $102.97 million for the quarter, compared to analysts’ expectations of $102.62 million. Arco Platform had a negative return on equity of 4.95% and a net margin of 1.42%. Equities analysts expect that Arco Platform Limited will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SPX Gestao de Recursos Ltda bought a new position in shares of Arco Platform in the second quarter worth approximately $6,720,000. Mirabella Financial Services LLP bought a new position in shares of Arco Platform in the second quarter worth approximately $312,000. Fifth Lane Capital LP bought a new position in shares of Arco Platform in the second quarter worth approximately $152,000. Advisory Services Network LLC increased its position in shares of Arco Platform by 14.3% in the first quarter. Advisory Services Network LLC now owns 49,881 shares of the company’s stock worth $547,000 after purchasing an additional 6,254 shares during the last quarter. Finally, Softbank Group CORP. bought a new position in shares of Arco Platform in the first quarter worth approximately $11,770,000.

About Arco Platform

(Get Free Report)

Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.

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