ABS Direct Equity Fund LLC bought a new stake in ARKO Corp. (NASDAQ:ARKO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the company's stock, valued at approximately $395,000. ABS Direct Equity Fund LLC owned 0.09% of ARKO at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Cannell Capital LLC raised its position in shares of ARKO by 55.8% during the 4th quarter. Cannell Capital LLC now owns 2,710,772 shares of the company's stock valued at $17,864,000 after buying an additional 971,158 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ARKO by 166.6% in the fourth quarter. JPMorgan Chase & Co. now owns 639,070 shares of the company's stock valued at $4,211,000 after acquiring an additional 399,387 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ARKO by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,851,140 shares of the company's stock valued at $12,200,000 after purchasing an additional 202,576 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in ARKO during the fourth quarter worth about $1,248,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ARKO by 24.0% in the 4th quarter. Bank of New York Mellon Corp now owns 766,295 shares of the company's stock worth $5,050,000 after purchasing an additional 148,269 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on ARKO shares. Wall Street Zen raised ARKO from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. BMO Capital Markets lifted their target price on shares of ARKO from $4.50 to $5.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Raymond James Financial cut their price target on shares of ARKO from $11.00 to $10.00 and set a "strong-buy" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus cut ARKO from a "buy" rating to a "hold" rating and reduced their price objective for the company from $8.50 to $7.50 in a research note on Thursday, February 27th. Finally, Capital One Financial initiated coverage on ARKO in a research note on Thursday, May 8th. They issued an "overweight" rating and a $8.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.35.
View Our Latest Analysis on ARKO
ARKO Trading Down 2.6%
Shares of ARKO stock traded down $0.11 during trading hours on Wednesday, reaching $4.20. The company's stock had a trading volume of 668,530 shares, compared to its average volume of 482,442. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 4.21. The stock has a market capitalization of $481.66 million, a P/E ratio of 140.00 and a beta of 0.74. The firm's fifty day simple moving average is $4.42 and its 200 day simple moving average is $5.43. ARKO Corp. has a one year low of $3.51 and a one year high of $7.84.
ARKO (NASDAQ:ARKO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.05. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.85 billion. ARKO had a net margin of 0.10% and a return on equity of 3.23%. Equities research analysts expect that ARKO Corp. will post 0.2 EPS for the current year.
ARKO Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.86%. The ex-dividend date was Monday, May 19th. ARKO's dividend payout ratio is currently 400.00%.
About ARKO
(
Free Report)
Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.
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