Pzena Investment Management Upped its Stake in ARC Document Solutions Inc (ARC)

Pzena Investment Management, led by Richard S. Pzena, has upped its position in ARC Document Solutions Inc (NYSE:ARC) to around 2.55 million shares, from some 2.46 million shares held, according to the latest 13F filing.

ARC Document Solutions

John Toth, Chief Financial Officer at ARC Document Solutions Inc (NYSE:ARC), purchased 1,200 shares of the company in the last quarter of 2013, and now holds 7,200 shares in total. The stock of the company saw quite a lot of insider selling in the month of December, amongst them worth mentioning is Kumarakulasingam Suriyakumar, Chairman, President And CEO at ARC Document Solutions, who massively trimmed his holding from 3.10 million shares to 2.71 million shares in December itself. Manuel Mesa La De Perez, a director, also sold 8,500 shares and now holds 92,039 shares of the company.

ARC Document Solutions Inc (NYSE:ARC) is a document solutions company. In its latest press release the company laid down its guidance for the fourth quarter and FY13. It expects sales for FY13 to be $407 million versus $406.1 million in FY12, this turns out into a 4% YoY increase. The adjusted annual earnings per share is also expected to be eight cents for FY13, compared to a negative four cents in FY12.

Recently, to boost its earnings the company replaced its 10.5% high yield bonds with a Term B Loan facility at LIBOR plus 5.25%.

A couple of months ago Pzena Investment Management, disclosed that it trimmed its holdings in Harte-Hanks, Inc. (NYSE:HHS) to around 3.1 million shares from over 3.2 million shares. The fund held 30.98 million shares at the end of September 2013 in Hewlett-Packard Company (NYSE:HPQ), with 4.19% of its equity portfolio invested in this company. In Pzena’s equity portfolio Oracle Corporation (NYSE:ORCL), stood in the second spot in terms of value, where the fund held 17.24 million shares at the end of the third quarter.

Disclosure: none

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