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.
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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