Arco Platform (NASDAQ:ARCE) Sets New 52-Week Low at $22.03

Arco Platform Limited (NASDAQ:ARCE)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $22.03 and last traded at $22.53, with a volume of 221003 shares. The stock had previously closed at $23.37.

Several research firms recently issued reports on ARCE. Itau BBA Securities upgraded shares of Arco Platform from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $57.00 to $47.00 in a report on Friday, June 18th. Zacks Investment Research downgraded shares of Arco Platform from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 15th.

The company has a market cap of $680.11 million, a P/E ratio of -584.10 and a beta of 0.84. The company’s fifty day moving average is $26.10 and its 200 day moving average is $27.86.

Arco Platform (NASDAQ:ARCE) last issued its quarterly earnings results on Wednesday, August 18th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.81). The business had revenue of $48.38 million for the quarter. Arco Platform had a negative net margin of 1.11% and a negative return on equity of 0.55%. On average, sell-side analysts forecast that Arco Platform Limited will post 0.42 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC raised its stake in Arco Platform by 1.8% during the first quarter. Champlain Investment Partners LLC now owns 46,350 shares of the company’s stock valued at $1,175,000 after purchasing an additional 830 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Arco Platform by 20.4% during the first quarter. BNP Paribas Arbitrage SA now owns 7,861 shares of the company’s stock valued at $199,000 after buying an additional 1,334 shares during the last quarter. Barclays PLC purchased a new stake in shares of Arco Platform during the first quarter valued at about $52,000. Commonwealth Equity Services LLC raised its position in shares of Arco Platform by 16.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 21,152 shares of the company’s stock valued at $535,000 after purchasing an additional 3,000 shares during the last quarter. Finally, C WorldWide Group Holding A S raised its position in shares of Arco Platform by 23.9% in the 2nd quarter. C WorldWide Group Holding A S now owns 19,360 shares of the company’s stock valued at $593,000 after purchasing an additional 3,732 shares during the last quarter. 83.14% of the stock is currently owned by hedge funds and other institutional investors.

About Arco Platform (NASDAQ:ARCE)

Arco Platform Ltd. is engaged in the provision of the educational services. It provides educational content in printed and digital format to the private schools. The firm operates through two segments: Core Curriculum and Supplemental Solutions. The Core Curriculum segment offers two versions, SAS & SAE for high income private schools and upper-middle income private schools respectively.

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