Short Interest in Arco Platform Limited (NASDAQ:ARCE) Declines By 14.0%

Posted by on Oct 2nd, 2023

Arco Platform Limited (NASDAQ:ARCE – Get Free Report) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,040,000 shares, a decrease of 14.0% from the August 31st total of 1,210,000 shares. Based on an average trading volume of 323,800 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered shares of Arco Platform from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $14.00 in a research report on Thursday, September 14th.

View Our Latest Report on Arco Platform

Institutional Investors Weigh In On Arco Platform

A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in Arco Platform during the 3rd quarter worth approximately $302,000. PDT Partners LLC acquired a new position in Arco Platform during the 4th quarter worth about $197,000. BlackRock Inc. increased its position in Arco Platform by 750.5% in the 3rd quarter. BlackRock Inc. now owns 17,596 shares of the company’s stock valued at $190,000 after acquiring an additional 15,527 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Arco Platform in the second quarter worth about $181,000. Finally, UBS Group AG lifted its position in shares of Arco Platform by 153.3% during the fourth quarter. UBS Group AG now owns 4,828 shares of the company’s stock worth $65,000 after purchasing an additional 2,922 shares in the last quarter.

Arco Platform Trading Down 0.4 %

Shares of Arco Platform stock opened at $13.78 on Monday. Arco Platform has a 52-week low of $7.85 and a 52-week high of $14.22. The firm has a market capitalization of $770.44 million, a PE ratio of -98.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.26 and a quick ratio of 1.06. The company’s fifty day moving average price is $13.37 and its two-hundred day moving average price is $12.52.

Arco Platform (NASDAQ:ARCE – Get Free Report) last issued its earnings results on Thursday, August 31st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $95.16 million during the quarter, compared to analyst estimates of $107.99 million. Arco Platform had a negative return on equity of 6.58% and a negative net margin of 1.88%. On average, analysts expect that Arco Platform will post 0.44 EPS for the current year.

Arco Platform Company Profile

(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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