Park City Capital Offshore Master, Ltd revealed that they own 5.8% of ARI Network Services Inc. (NASDAQ:ARIS) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, October 7th. The investor owns 1,000,000 shares of the stock valued at approximately $4,680,000. The reporting parties listed on the disclosure included Park City Capital Offshore Master, Ltd, Park City Capital, LLC and Michael J Fox. The disclosure is available through the SEC website at this link.
Several other large investors have also made changes to their positions in the company. Hancock Holding Co. purchased a new stake in ARI Network Services during the first quarter worth approximately $103,000. Spark Investment Management LLC increased its position in shares of ARI Network Services by 53.2% in the first quarter. Spark Investment Management LLC now owns 33,700 shares of the company’s stock worth $147,000 after buying an additional 11,700 shares during the last quarter. Finally, Cowen Prime Services LLC increased its position in shares of ARI Network Services by 4.0% in the second quarter. Cowen Prime Services LLC now owns 1,505,250 shares of the company’s stock worth $6,322,000 after buying an additional 58,450 shares during the last quarter. Hedge funds and other institutional investors own 26.35% of the company’s stock.
ARI Network Services Inc. (NASDAQ:ARIS) opened at 4.68 on Friday. ARI Network Services Inc. has a 12 month low of $3.33 and a 12 month high of $5.47. The firm’s 50-day moving average is $4.50 and its 200-day moving average is $4.40. The stock has a market capitalization of $80.80 million, a P/E ratio of 52.00 and a beta of 0.64.
Separately, Zacks Investment Research raised shares of ARI Network Services from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research report on Thursday, June 16th.
About ARI Network Services
ARI Network Services, Inc creates software-as-a-service (SaaS) and data-as-a-service (DaaS) solutions that help equipment manufacturers, distributors and dealers in selected vertical markets Sell More Stuff!- online and in-store. The Company’s solutions include Web Platform Solutions, eCatalog Platform Solutions and Lead Management Product.
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