Zacks Investment Research Downgrades ARI Network Services, Inc. (ARIS) to Hold

Zacks Investment Research downgraded shares of ARI Network Services, Inc. (NASDAQ:ARIS) from a strong-buy rating to a hold rating in a research note published on Wednesday, August 9th.

According to Zacks, “ARI Network Services, Inc. is a provider of business-to-business Internet e-commerce solutions for manufacturers with shared distribution and service networks. The company currently serves segments of the manufactured equipment market, including Outdoor Power, Recreation Vehicle, Floor Maintenance, Marine, and Construction. The company’s communications systems provide an electronic pathway for parts orders, warranty claims, and other transactions between manufacturers and their networks of sales and service points. “

Other research analysts have also issued reports about the stock. Craig Hallum lowered shares of ARI Network Services from a buy rating to a hold rating in a report on Wednesday, June 21st. Barrington Research lowered shares of ARI Network Services from an outperform rating to an underperform rating in a research note on Thursday, June 22nd.

Shares of ARI Network Services (ARIS) traded up 0.28% during midday trading on Wednesday, hitting $7.09. 92,832 shares of the stock were exchanged. The firm has a 50-day moving average of $7.06 and a 200-day moving average of $5.83. ARI Network Services has a 1-year low of $4.24 and a 1-year high of $7.48. The company has a market capitalization of $123.53 million, a P/E ratio of 50.64 and a beta of 0.22.

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Several hedge funds have recently added to or reduced their stakes in the company. Banco BTG Pactual S.A. acquired a new stake in ARI Network Services during the second quarter valued at $3,032,000. Virtu KCG Holdings LLC purchased a new stake in ARI Network Services during the second quarter valued at $116,000. K2 Principal Fund L.P. purchased a new stake in ARI Network Services during the second quarter valued at $936,000. Vanguard Group Inc. increased its stake in ARI Network Services by 39.6% in the second quarter. Vanguard Group Inc. now owns 778,622 shares of the software maker’s stock valued at $5,489,000 after buying an additional 220,836 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in ARI Network Services during the second quarter valued at $845,000. Institutional investors and hedge funds own 33.89% of the company’s stock.

About ARI Network Services

ARI Network Services, Inc (ARI) provides Website, software and data solutions. The Company’s solutions include Lead Generation and eCommerce Websites, eCatalogs, Business Management Software, Digital Marketing Services. It offers a menu of Website add-ons, including a mobile inventory management application, third-party inventory integrations and business management integrations.

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