Spark Investment Management LLC lowered its stake in shares of ARC Document Solutions, Inc. (NYSE:ARC) by 9.3% during the second quarter, Holdings Channel reports. The fund owned 201,100 shares of the business services provider’s stock after selling 20,600 shares during the period. Spark Investment Management LLC’s holdings in ARC Document Solutions were worth $836,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. raised its stake in 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 valued at $4,438,000 after buying an additional 284,981 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ARC Document Solutions by 17.7% in the first quarter. JPMorgan Chase & Co. now owns 1,488,753 shares of the business services provider’s stock valued at $5,136,000 after buying an additional 223,502 shares during the last quarter. Renaissance Technologies LLC raised its stake in ARC Document Solutions by 6.2% in the first quarter. Renaissance Technologies LLC now owns 2,559,900 shares of the business services provider’s stock valued at $8,832,000 after buying an additional 150,500 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in ARC Document Solutions by 20.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 797,651 shares of the business services provider’s stock valued at $2,752,000 after buying an additional 133,184 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in ARC Document Solutions by 17.6% in the second quarter. North Star Investment Management Corp. now owns 660,250 shares of the business services provider’s stock valued at $2,747,000 after buying an additional 99,000 shares during the last quarter. 71.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ARC Document Solutions, Inc. (NYSE:ARC) opened at 3.67 on Friday. ARC Document Solutions, Inc. has a 12-month low of $3.06 and a 12-month high of $5.55. The company has a 50-day moving average of $3.99 and a 200 day moving average of $3.97. The firm has a market cap of $170.43 million, a P/E ratio of 15.42 and a beta of 2.50.

ARC Document Solutions (NYSE:ARC) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The firm had revenue of $102.30 million during the quarter, compared to analysts’ expectations of $100.74 million. ARC Document Solutions had a net margin of 2.72% and a return on equity of 7.00%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Equities research analysts anticipate that ARC Document Solutions, Inc. will post $0.22 earnings per share for the current fiscal year.

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Several analysts have recently commented on ARC shares. Raymond James Financial, Inc. raised shares of ARC Document Solutions from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 6th. B. Riley reaffirmed a “buy” rating and set a $5.00 price target on shares of ARC Document Solutions in a research report on Monday, May 8th. Finally, TheStreet raised shares of ARC Document Solutions from a “d+” rating to a “c” rating in a research report on Tuesday, August 1st.

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

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