ARC Document Solutions, Inc. (NYSE:ARC – Get Free Report) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 66,300 shares, a decrease of 59.2% from the August 31st total of 162,400 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 336,000 shares, the days-to-cover ratio is presently 0.2 days.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. StockNews.com initiated coverage on ARC Document Solutions in a research note on Monday. They set a “strong-buy” rating on the stock. Singular Research raised ARC Document Solutions to a “strong-buy” rating in a research report on Wednesday, August 21st.
Check Out Our Latest Stock Analysis on ARC Document Solutions
ARC Document Solutions Price Performance
ARC Document Solutions (NYSE:ARC – Get Free Report) last issued its earnings results on Wednesday, August 7th. The business services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. ARC Document Solutions had a return on equity of 7.29% and a net margin of 2.76%. The business had revenue of $75.11 million during the quarter, compared to analysts’ expectations of $72.60 million. Analysts anticipate that ARC Document Solutions will post 0.23 EPS for the current year.
ARC Document Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 5.93%. ARC Document Solutions’s dividend payout ratio (DPR) is presently 100.00%.
Institutional Investors Weigh In On ARC Document Solutions
A number of hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. raised its stake in shares of ARC Document Solutions by 36.5% during the 1st quarter. North Star Investment Management Corp. now owns 1,494,828 shares of the business services provider’s stock worth $4,141,000 after acquiring an additional 400,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ARC Document Solutions by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,550,606 shares of the business services provider’s stock worth $4,094,000 after purchasing an additional 83,795 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of ARC Document Solutions by 62.0% during the second quarter. First Eagle Investment Management LLC now owns 218,673 shares of the business services provider’s stock worth $577,000 after purchasing an additional 83,708 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of ARC Document Solutions by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,858,142 shares of the business services provider’s stock valued at $7,545,000 after purchasing an additional 48,245 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of ARC Document Solutions by 8.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 520,037 shares of the business services provider’s stock worth $1,441,000 after purchasing an additional 39,800 shares in the last quarter. 48.93% of the stock is currently owned by hedge funds and other institutional investors.
About ARC Document Solutions
ARC Document Solutions, Inc, a digital printing company, provides digital printing and document-related services in the United States. It provides managed print services, that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and cloud-based document management software and other digital hosting services.
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