BlackRock Inc. increased its position in shares of ARC Document Solutions (NYSE:ARC) by 6.4% in the 4th quarter, HoldingsChannel reports. The firm owned 5,478,276 shares of the business services provider’s stock after purchasing an additional 327,779 shares during the period. BlackRock Inc. owned about 0.12% of ARC Document Solutions worth $13,969,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARC. Alambic Investment Management L.P. raised its holdings in ARC Document Solutions by 129.3% during the fourth quarter. Alambic Investment Management L.P. now owns 219,368 shares of the business services provider’s stock worth $559,000 after purchasing an additional 123,720 shares in the last quarter. Strs Ohio increased its holdings in ARC Document Solutions by 69.0% in the fourth quarter. Strs Ohio now owns 237,000 shares of the business services provider’s stock valued at $604,000 after buying an additional 96,800 shares in the last quarter. Algert Global LLC increased its holdings in ARC Document Solutions by 64.0% in the fourth quarter. Algert Global LLC now owns 214,512 shares of the business services provider’s stock valued at $547,000 after buying an additional 83,690 shares in the last quarter. LSV Asset Management increased its holdings in ARC Document Solutions by 9.1% in the fourth quarter. LSV Asset Management now owns 609,597 shares of the business services provider’s stock valued at $1,554,000 after buying an additional 50,785 shares in the last quarter. Finally, OxFORD Asset Management LLP increased its holdings in ARC Document Solutions by 35.9% in the third quarter. OxFORD Asset Management LLP now owns 181,436 shares of the business services provider’s stock valued at $744,000 after buying an additional 47,921 shares in the last quarter. 70.85% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research cut shares of ARC Document Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. ARC Document Solutions presently has a consensus rating of “Hold” and an average target price of $4.00.
In other news, insider Rahul K. Roy sold 10,500 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $2.45, for a total value of $25,725.00. Following the sale, the insider now directly owns 137,753 shares in the company, valued at $337,494.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director De La Mesa Manuel J. Perez purchased 20,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was acquired at an average price of $2.35 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now directly owns 60,378 shares of the company’s stock, valued at $141,888.30. The disclosure for this purchase can be found here. Company insiders own 15.57% of the company’s stock.
Shares of ARC Document Solutions stock opened at $2.25 on Friday. ARC Document Solutions has a 12-month low of $2.04 and a 12-month high of $4.84. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.53 and a quick ratio of 1.26. The stock has a market capitalization of $100.04, a price-to-earnings ratio of 15.00 and a beta of 2.08.
ARC Document Solutions (NYSE:ARC) last issued its earnings results on Tuesday, February 27th. The business services provider reported $0.02 earnings per share (EPS) for the quarter. ARC Document Solutions had a negative net margin of 5.45% and a positive return on equity of 4.45%. The company had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $95.32 million. During the same period last year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. sell-side analysts predict that ARC Document Solutions will post 0.12 earnings per share for the current year.
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ARC Document Solutions Company Profile
ARC Document Solutions, Inc, a reprographics company, provides document solutions worldwide. It offers managed print services, an onsite service that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and operates 175 offsite service centers, which offers managed print service customers with the flexibility and overflow capacity during peak workloads.
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