Assenagon Asset Management S.A. Takes Position in Arco Platform Ltd (NASDAQ:ARCE)

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Assenagon Asset Management S.A. acquired a new stake in shares of Arco Platform Ltd (NASDAQ:ARCE) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 31,177 shares of the company’s stock, valued at approximately $1,580,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCE. Keybank National Association OH purchased a new position in shares of Arco Platform during the second quarter valued at approximately $229,000. A.R.T. Advisors LLC purchased a new position in shares of Arco Platform during the second quarter valued at approximately $312,000. Parametric Portfolio Associates LLC boosted its position in shares of Arco Platform by 95.2% during the second quarter. Parametric Portfolio Associates LLC now owns 13,507 shares of the company’s stock valued at $591,000 after buying an additional 6,588 shares during the last quarter. Castleark Management LLC purchased a new position in shares of Arco Platform during the second quarter valued at approximately $665,000. Finally, Pendal Group Ltd purchased a new position in shares of Arco Platform during the second quarter valued at approximately $826,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ARCE stock opened at $43.41 on Monday. The stock’s fifty day simple moving average is $46.89 and its two-hundred day simple moving average is $42.30. The company has a current ratio of 5.19, a quick ratio of 5.12 and a debt-to-equity ratio of 0.02. Arco Platform Ltd has a 1-year low of $17.68 and a 1-year high of $56.74. The stock has a market cap of $1.04 billion and a P/E ratio of 160.78.

Arco Platform (NASDAQ:ARCE) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Arco Platform had a positive return on equity of 7.25% and a negative net margin of 18.12%. The business had revenue of $35.09 million for the quarter. As a group, analysts forecast that Arco Platform Ltd will post 0.33 earnings per share for the current fiscal year.

Several research analysts recently issued reports on the company. Bank of America assumed coverage on Arco Platform in a research report on Thursday, August 29th. They set a “buy” rating on the stock. ValuEngine cut Arco Platform from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group assumed coverage on Arco Platform in a research report on Tuesday, June 25th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Arco Platform presently has an average rating of “Buy” and an average target price of $27.00.

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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Institutional Ownership by Quarter for Arco Platform (NASDAQ:ARCE)

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