Arco Platform (NASDAQ:ARCE) Lowered to Strong Sell at Zacks Investment Research

Arco Platform (NASDAQ:ARCE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Arco Platform Limited develops educational software. The Company offers a platform which delivers educational content in printed and digital formats. Arco Platform Limited is based in Vila Olimpia Sao Paulo, Brazil. “

Separately, Itau BBA Securities raised shares of Arco Platform from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $57.00 to $47.00 in a research report on Friday, June 18th.

NASDAQ:ARCE traded down $0.28 during trading hours on Wednesday, hitting $23.17. The stock had a trading volume of 4,061 shares, compared to its average volume of 256,877. Arco Platform has a 1-year low of $22.08 and a 1-year high of $44.66. The business has a 50 day simple moving average of $26.37 and a two-hundred day simple moving average of $28.09. The company has a market cap of $699.43 million, a PE ratio of -579.11 and a beta of 0.84.

Arco Platform (NASDAQ:ARCE) last issued its quarterly earnings data on Wednesday, August 18th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.81). Arco Platform had a negative net margin of 1.11% and a negative return on equity of 0.55%. The firm had revenue of $48.38 million during the quarter. As a group, equities research analysts expect that Arco Platform will post 0.43 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in ARCE. Barclays PLC acquired a new stake in shares of Arco Platform during the first quarter worth approximately $52,000. BNP Paribas Arbitrage SA grew 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 worth $199,000 after buying an additional 1,334 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Arco Platform during the first quarter worth approximately $225,000. Davy Global Fund Management Ltd bought a new position in Arco Platform during the second quarter worth $247,000. Finally, Van ECK Associates Corp bought a new position in Arco Platform during the first quarter worth $368,000. 83.14% of the stock is owned by institutional investors and hedge funds.

Arco Platform Company Profile

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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