First Trust Advisors LP Cuts Stake in ARC Document Solutions, Inc. (ARC)

First Trust Advisors LP reduced its position in ARC Document Solutions, Inc. (NYSE:ARC) by 26.6% during the first quarter, Holdings Channel reports. The institutional investor owned 31,028 shares of the business services provider’s stock after selling 11,242 shares during the period. First Trust Advisors LP’s holdings in ARC Document Solutions were worth $107,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ARC. Russell Investments Group Ltd. bought a new stake in shares of ARC Document Solutions during the fourth quarter worth about $3,154,000. Punch & Associates Investment Management Inc. increased its stake in shares of ARC Document Solutions by 28.5% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,286,394 shares of the business services provider’s stock worth $4,438,000 after buying an additional 284,981 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of ARC Document Solutions by 5.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,400 shares of the business services provider’s stock worth $12,240,000 after buying an additional 120,300 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of ARC Document Solutions by 21.2% in the first quarter. North Star Investment Management Corp. now owns 561,250 shares of the business services provider’s stock worth $1,936,000 after buying an additional 98,000 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of ARC Document Solutions by 33.0% in the first quarter. First Manhattan Co. now owns 221,082 shares of the business services provider’s stock worth $826,000 after buying an additional 54,850 shares in the last quarter. Institutional investors own 72.60% of the company’s stock.

Shares of ARC Document Solutions, Inc. (NYSE:ARC) opened at 4.10 on Monday. ARC Document Solutions, Inc. has a 12 month low of $3.06 and a 12 month high of $5.55. The company’s market capitalization is $190.35 million. The company has a 50-day moving average price of $3.85 and a 200-day moving average price of $4.18.

ARC Document Solutions (NYSE:ARC) last issued its earnings results on Tuesday, May 2nd. The business services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $98.73 million during the quarter, compared to analysts’ expectations of $99.69 million. ARC Document Solutions had a positive return on equity of 7.85% and a negative net margin of 12.12%. On average, analysts forecast that ARC Document Solutions, Inc. will post $0.22 EPS for the current fiscal year.

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ARC has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and issued a $5.00 price target on shares of ARC Document Solutions in a research report on Monday, March 20th. Zacks Investment Research downgraded ARC Document Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Finally, Raymond James Financial, Inc. upgraded ARC Document Solutions from an “outperform” rating to a “strong-buy” rating in a research report on Thursday.

ARC Document Solutions Company Profile

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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Institutional Ownership by Quarter for ARC Document Solutions (NYSE:ARC)

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