ARC Document Solutions Inc (ARC): Hedge Funds Are Snapping Up

As industry-wide interest jumped, key money managers were leading the bulls’ herd. Whitebox Advisors, managed by Andy Redleaf, created the most valuable position in ARC Document Solutions Inc (NYSE:ARC). Whitebox Advisors had $1.9 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also initiated a $0.9 million position during the quarter. The other funds with brand new ARC positions are Jeffrey Moskowitz’s Harvey Partners, Glenn Russell Dubin’s Highbridge Capital Management, and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to ARC Document Solutions Inc (NYSE:ARC). We will take a look at Akebia Therapeutics Inc (NASDAQ:AKBA), Tesco Corporation (USA) (NASDAQ:TESO), Lumos Networks Corp (NASDAQ:LMOS), and SciQuest, Inc. (NASDAQ:SQI). All of these stocks’ market caps are closest to ARC’s market cap.

As you can see these stocks had an average of 11.5 hedge funds with bullish positions and the average amount invested in these stocks was $42 million. That figure was $29 million in ARC’s case. SciQuest, Inc. (NASDAQ:SQI) is the most popular stock in this table with 13 funds reporting stakes, while  Tesco Corporation (USA) (NASDAQ:TESO) is the least popular one. Compared to these stocks, ARC Document Solutions Inc (NYSE:ARC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.