Laurion Capital Management LP trimmed its position in Arco Platform Ltd (NASDAQ:ARCE) by 57.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,650 shares of the company’s stock after selling 70,497 shares during the quarter. Laurion Capital Management LP owned approximately 0.25% of Arco Platform worth $1,668,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of ARCE. California Public Employees Retirement System purchased a new stake in shares of Arco Platform in the 1st quarter valued at $301,000. Victory Capital Management Inc. boosted its stake in shares of Arco Platform by 5.1% in the 1st quarter. Victory Capital Management Inc. now owns 871,180 shares of the company’s stock valued at $28,130,000 after purchasing an additional 42,271 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Arco Platform in the 1st quarter valued at $102,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Arco Platform in the 1st quarter valued at $174,000. Finally, Norges Bank purchased a new stake in shares of Arco Platform in the 4th quarter valued at $885,000. 90.78% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut shares of Arco Platform from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.00.
ARCE traded down $0.06 during trading on Friday, hitting $44.20. 17,600 shares of the stock traded hands, compared to its average volume of 63,773. The stock has a market capitalization of $986.14 million and a P/E ratio of 163.70. Arco Platform Ltd has a 12-month low of $17.68 and a 12-month high of $44.80.
Arco Platform (NASDAQ:ARCE) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.14. The firm had revenue of $31.06 million for the quarter. On average, analysts predict that Arco Platform Ltd will post 0.61 earnings per share for the current fiscal year.
Arco Platform Company Profile
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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