Shell Asset Management Co. cut its stake in shares of ARC Document Solutions Inc. (NYSE:ARC) by 5.4% during the second quarter, Holdings Channel reports. The firm owned 62,006 shares of the company’s stock after selling 3,534 shares during the period. Shell Asset Management Co.’s holdings in ARC Document Solutions were worth $241,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ARC. North Star Investment Management Corp. raised its position in ARC Document Solutions by 2.2% in the second quarter. North Star Investment Management Corp. now owns 464,725 shares of the company’s stock valued at $1,808,000 after buying an additional 10,000 shares during the period. Punch & Associates Investment Management Inc. raised its position in ARC Document Solutions by 1.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 1,028,377 shares of the company’s stock valued at $4,000,000 after buying an additional 14,548 shares during the period. First Quadrant L P CA raised its position in ARC Document Solutions by 127.3% in the second quarter. First Quadrant L P CA now owns 32,500 shares of the company’s stock valued at $126,000 after buying an additional 18,200 shares during the period. Spark Investment Management LLC raised its position in ARC Document Solutions by 20.2% in the first quarter. Spark Investment Management LLC now owns 140,800 shares of the company’s stock valued at $633,000 after buying an additional 23,700 shares during the period. Finally, Acrospire Investment Management LLC bought a new position in ARC Document Solutions during the first quarter valued at about $165,000. Institutional investors own 71.95% of the company’s stock.
Shares of ARC Document Solutions Inc. (NYSE:ARC) traded up 1.11% during midday trading on Wednesday, hitting $3.63. The stock had a trading volume of 73,718 shares. The firm has a 50 day moving average price of $3.52 and a 200 day moving average price of $3.85. ARC Document Solutions Inc. has a one year low of $3.06 and a one year high of $6.77. The stock has a market cap of $167.01 million, a PE ratio of 5.68 and a beta of 2.16.
ARC Document Solutions (NYSE:ARC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. ARC Document Solutions had a return on equity of 7.66% and a net margin of 7.18%. The business earned $103.80 million during the quarter, compared to analysts’ expectations of $109.31 million. During the same period in the prior year, the business posted $0.13 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that ARC Document Solutions Inc. will post $0.25 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on ARC. Zacks Investment Research upgraded ARC Document Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. B. Riley restated a “buy” rating and set a $4.10 price target on shares of ARC Document Solutions in a research note on Saturday, August 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.70.
About ARC Document Solutions
ARC Document Solutions, Inc (ARC) is a document solutions provider for the architectural, engineering and construction (AEC) industry. The Company also provides document solutions to businesses of various types. ARC’s offerings include managed print services (MPS), offsite services, archive and information management (AIM), specialized color printing, Web-based document management applications, digital shipping/managed file transfer, and equipment and supplies sales.
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