Arco Platform (ARCE) Issues Quarterly Earnings Results
Arco Platform (NASDAQ:ARCE) announced its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.14, Morningstar.com reports. The company had revenue of $31.06 million for the quarter. Arco Platform updated its Q2 2019 guidance to EPS.
Shares of NASDAQ:ARCE traded down $1.07 during trading on Wednesday, reaching $36.33. 940 shares of the company’s stock traded hands, compared to its average volume of 62,665. Arco Platform has a fifty-two week low of $17.68 and a fifty-two week high of $40.00. The stock has a market capitalization of $764.79 million and a PE ratio of 134.33.
Several large investors have recently bought and sold shares of ARCE. BlackRock Inc. acquired a new stake in shares of Arco Platform during the 3rd quarter valued at about $23,039,000. Victory Capital Management Inc. boosted its holdings in Arco Platform by 40.7% in the 4th quarter. Victory Capital Management Inc. now owns 828,909 shares of the company’s stock worth $18,335,000 after buying an additional 239,879 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Arco Platform in the 1st quarter worth about $5,945,000. Artisan Partners Limited Partnership acquired a new stake in Arco Platform in the 1st quarter worth about $1,939,000. Finally, JPMorgan Chase & Co. acquired a new stake in Arco Platform in the 3rd quarter worth about $1,139,000.
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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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