Arco Platform (NASDAQ:ARCE) Sets New 52-Week High at $44.90

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Arco Platform Ltd (NASDAQ:ARCE)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $44.90 and last traded at $44.90, with a volume of 1423 shares trading hands. The stock had previously closed at $43.90.

Separately, Zacks Investment Research lowered shares of Arco Platform from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.00.

The company has a market cap of $1.00 billion and a price-to-earnings ratio of 161.96.

Arco Platform (NASDAQ:ARCE) last released its quarterly earnings data 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 company had revenue of $31.06 million during the quarter. On average, analysts expect that Arco Platform Ltd will post 0.61 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new position in shares of Arco Platform during the 1st quarter worth $102,000. Acadian Asset Management LLC acquired a new position in shares of Arco Platform during the 4th quarter worth $159,000. BNP Paribas Arbitrage SA acquired a new position in shares of Arco Platform during the 1st quarter worth $174,000. Champlain Investment Partners LLC acquired a new position in shares of Arco Platform during the 1st quarter worth $455,000. Finally, GAM Holding AG acquired a new position in shares of Arco Platform during the 1st quarter worth $814,000. Institutional investors own 90.78% of the company’s stock.

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Arco Platform Company Profile (NASDAQ:ARCE)

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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