Arco Platform’s (NASDAQ:ARCE) quiet period is set to expire on Monday, November 5th. Arco Platform had issued 11,111,111 shares in its public offering on September 26th. The total size of the offering was $194,444,443 based on an initial share price of $17.50. During Arco Platform’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of brokerages have recently weighed in on ARCE. Itau BBA Securities began coverage on Arco Platform in a research note on Monday, October 22nd. They issued an “outperform” rating and a $27.00 target price on the stock. Morgan Stanley began coverage on Arco Platform in a research note on Monday, October 22nd. They issued an “overweight” rating and a $27.00 target price on the stock. Finally, Goldman Sachs Group began coverage on Arco Platform in a research note on Sunday, October 21st. They issued a “buy” rating and a $26.00 target price on the stock.
Arco Platform stock opened at $21.27 on Friday. Arco Platform has a 12 month low of $20.20 and a 12 month high of $25.59.
An institutional investor recently bought a new position in Arco Platform stock. Victory Capital Management Inc. acquired a new stake in Arco Platform Ltd (NASDAQ:ARCE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 589,030 shares of the company’s stock, valued at approximately $13,431,000. Victory Capital Management Inc. owned about 2.81% of Arco Platform at the end of the most recent quarter.
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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