ARC Document Solutions, Inc. (NYSE:ARC) Sees Large Growth in Short Interest

ARC Document Solutions, Inc. (NYSE:ARC) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 74,300 shares, an increase of 21.0% from the September 30th total of 61,400 shares. Based on an average daily trading volume, of 354,100 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On ARC Document Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in ARC. Mackenzie Financial Corp raised its position in shares of ARC Document Solutions by 15.1% in the 2nd quarter. Mackenzie Financial Corp now owns 34,496 shares of the business services provider’s stock valued at $91,000 after buying an additional 4,519 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of ARC Document Solutions by 16.3% in the 2nd quarter. Ritholtz Wealth Management now owns 55,586 shares of the business services provider’s stock valued at $147,000 after buying an additional 7,805 shares in the last quarter. Heron Bay Capital Management raised its position in shares of ARC Document Solutions by 29.6% in the 1st quarter. Heron Bay Capital Management now owns 60,601 shares of the business services provider’s stock valued at $168,000 after buying an additional 13,837 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of ARC Document Solutions by 80.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 72,752 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 32,487 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of ARC Document Solutions by 28.0% during the 1st quarter. First Eagle Investment Management LLC now owns 134,965 shares of the business services provider’s stock valued at $374,000 after purchasing an additional 29,500 shares during the last quarter. 48.93% of the stock is currently owned by institutional investors and hedge funds.

ARC Document Solutions Stock Performance

ARC Document Solutions stock traded down $0.01 during midday trading on Wednesday, hitting $3.41. The company’s stock had a trading volume of 571,963 shares, compared to its average volume of 199,063. ARC Document Solutions has a 1-year low of $2.56 and a 1-year high of $3.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.54 and a quick ratio of 1.41. The company has a 50-day moving average price of $3.35 and a two-hundred day moving average price of $3.00. The company has a market cap of $147.24 million, a price-to-earnings ratio of 17.05, a PEG ratio of 1.20 and a beta of 1.13.

ARC Document Solutions (NYSE:ARC) last issued its quarterly earnings data 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 net margin of 2.76% and a return on equity of 7.29%. The business had revenue of $75.11 million during the quarter, compared to analysts’ expectations of $72.60 million. As a group, sell-side analysts predict that ARC Document Solutions will post 0.23 earnings per share for the current year.

ARC Document Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, October 31st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Thursday, October 31st. ARC Document Solutions’s payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several analysts have weighed in on ARC shares. StockNews.com started coverage on shares of ARC Document Solutions in a research note on Friday, October 25th. They issued a “strong-buy” rating for the company. Singular Research upgraded shares of ARC Document Solutions to a “strong-buy” rating in a research note on Wednesday, August 21st.

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.