89,400 Shares in ARKO Corp. (NASDAQ:ARKO) Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has purchased 89,400 new shares of ARKO Corp. for approximately $353,000, which increases its ownership to 0.08% of the company.
• Institutional investors now control 78.29% of ARKO's stock, reflecting strong interest from major financial players in the company.
• Recent earnings data showed ARKO reported a loss of ($0.12) per share, beating the consensus estimate, while revenue fell slightly short of expectations at $1.83 billion.

Allianz Asset Management GmbH purchased a new stake in ARKO Corp. (NASDAQ:ARKO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 89,400 shares of the company's stock, valued at approximately $353,000. Allianz Asset Management GmbH owned approximately 0.08% of ARKO as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cannell Capital LLC increased its stake in shares of ARKO by 55.8% in the fourth 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 during the period. Dimensional Fund Advisors LP boosted its holdings in shares of ARKO by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,851,140 shares of the company's stock worth $12,200,000 after buying an additional 202,576 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of ARKO by 9.0% during the 4th quarter. Northern Trust Corp now owns 709,445 shares of the company's stock worth $4,675,000 after buying an additional 58,453 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ARKO by 166.6% during the 4th quarter. JPMorgan Chase & Co. now owns 639,070 shares of the company's stock worth $4,211,000 after buying an additional 399,387 shares in the last quarter. Finally, CastleKnight Management LP boosted its holdings in shares of ARKO by 14.7% during the 4th quarter. CastleKnight Management LP now owns 321,613 shares of the company's stock worth $2,119,000 after buying an additional 41,179 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

ARKO Trading Up 0.9%

Shares of ARKO traded up $0.04 during mid-day trading on Wednesday, hitting $4.10. 161,249 shares of the company's stock traded hands, compared to its average volume of 596,046. The firm has a market capitalization of $469.61 million, a P/E ratio of 135.47 and a beta of 0.74. The business's 50-day moving average price is $4.42 and its 200-day moving average price is $4.86. ARKO Corp. has a 1 year low of $3.51 and a 1 year high of $7.84. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 4.21.

ARKO (NASDAQ:ARKO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.85 billion. ARKO had a return on equity of 3.23% and a net margin of 0.10%. As a group, sell-side analysts forecast that ARKO Corp. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARKO. Capital One Financial started coverage on ARKO in a report on Thursday, May 8th. They set an "overweight" rating and a $8.00 price target on the stock. Wall Street Zen lowered ARKO from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Raymond James Financial lowered their target price on ARKO from $11.00 to $10.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 9th. Finally, BMO Capital Markets raised their target price on ARKO from $4.50 to $5.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.35.

ARKO Company Profile

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.