Renaissance Technologies LLC lifted its holdings in shares of ARC Document Solutions Inc (NYSE:ARC) by 9.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,328,381 shares of the business services provider’s stock after acquiring an additional 298,001 shares during the quarter. Renaissance Technologies LLC owned 7.29% of ARC Document Solutions worth $5,891,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in ARC Document Solutions by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,560,105 shares of the business services provider’s stock worth $4,531,000 after buying an additional 55,457 shares during the last quarter. JPMorgan Chase & Co. increased its position in ARC Document Solutions by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 1,508,987 shares of the business services provider’s stock worth $3,320,000 after buying an additional 43,664 shares during the last quarter. Weber Alan W increased its position in ARC Document Solutions by 84.3% in the second quarter. Weber Alan W now owns 874,700 shares of the business services provider’s stock worth $1,548,000 after buying an additional 400,000 shares during the last quarter. Millennium Management LLC increased its position in ARC Document Solutions by 407.0% in the first quarter. Millennium Management LLC now owns 254,885 shares of the business services provider’s stock worth $561,000 after buying an additional 204,610 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in ARC Document Solutions in the second quarter worth $219,000. 61.97% of the stock is owned by institutional investors and hedge funds.
NYSE:ARC opened at $2.54 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 1.24. ARC Document Solutions Inc has a 1 year low of $1.62 and a 1 year high of $4.84. The firm has a market capitalization of $129.71 million, a price-to-earnings ratio of 16.93 and a beta of 2.25.
ARC Document Solutions (NYSE:ARC) last released its earnings results on Thursday, August 2nd. The business services provider reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. ARC Document Solutions had a positive return on equity of 4.13% and a negative net margin of 5.62%. The business had revenue of $104.19 million during the quarter, compared to the consensus estimate of $103.94 million. On average, equities research analysts predict that ARC Document Solutions Inc will post 0.14 EPS for the current fiscal year.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded ARC Document Solutions from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine downgraded ARC Document Solutions from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Finally, B. Riley raised ARC Document Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.75 to $3.25 in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.83.
ARC Document Solutions 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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