Allianz Asset Management GmbH Purchases New Shares in ARKO Corp. (NASDAQ:ARKO)

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 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 89,400 shares of the company's stock, valued at approximately $353,000. Allianz Asset Management GmbH owned 0.08% of ARKO at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cannell Capital LLC lifted 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 acquiring an additional 971,158 shares during the period. JPMorgan Chase & Co. lifted its position in shares of ARKO by 166.6% during the 4th 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 period. Dimensional Fund Advisors LP lifted its position 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 valued at $12,200,000 after acquiring an additional 202,576 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of ARKO during the 4th quarter valued at $1,248,000. Finally, ABS Direct Equity Fund LLC bought a new stake in shares of ARKO during the 1st quarter valued at $395,000. 78.29% of the stock is currently owned by institutional investors.

ARKO Price Performance

Shares of ARKO stock opened at $3.99 on Friday. 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 Corp. has a twelve month low of $3.51 and a twelve month high of $7.84. The company has a market cap of $457.57 million, a P/E ratio of 133.00 and a beta of 0.74. The business has a fifty day simple moving average of $4.44 and a 200 day simple moving average of $4.90.

ARKO (NASDAQ:ARKO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. ARKO had a return on equity of 3.23% and a net margin of 0.10%. On average, sell-side analysts forecast that ARKO Corp. will post 0.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ARKO shares. Wall Street Zen downgraded ARKO from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Raymond James Financial cut their target price on ARKO from $11.00 to $10.00 and set a "strong-buy" rating for the company in a research report on Friday, May 9th. Capital One Financial started coverage on ARKO in a research report on Thursday, May 8th. They set an "overweight" rating and a $8.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on ARKO from $4.50 to $5.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average 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.

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