Gabelli Funds LLC Has $1.32 Million Stock Position in ARKO Corp. $ARKO

Key Points

• Gabelli Funds LLC increased its stake in ARKO Corp. by 134.5%, owning 333,000 shares worth approximately $1.31 million as of the latest quarter.
• The company reported $2 billion in revenue for the last quarter, outpacing analyst estimates, and achieved an earnings per share of $0.16.
• ARKO declared a quarterly dividend of $0.03 per share, reflecting a payout ratio of 150% and an annualized yield of 2.4%.

Gabelli Funds LLC increased its position in ARKO Corp. (NASDAQ:ARKO - Free Report) by 134.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 333,000 shares of the company's stock after buying an additional 191,000 shares during the period. Gabelli Funds LLC owned 0.29% of ARKO worth $1,315,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of ARKO during the 4th quarter valued at $53,000. Tower Research Capital LLC TRC increased its holdings in shares of ARKO by 90.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,742 shares of the company's stock valued at $64,000 after acquiring an additional 4,639 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of ARKO in the 4th quarter valued at approximately $68,000. Hsbc Holdings PLC acquired a new stake in ARKO in the 1st quarter worth approximately $45,000. Finally, Corton Capital Inc. bought a new stake in ARKO during the first quarter worth approximately $45,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

ARKO Price Performance

Shares of NASDAQ ARKO traded down $0.05 during midday trading on Thursday, reaching $4.82. 169,835 shares of the company traded hands, compared to its average volume of 590,477. ARKO Corp. has a 12 month low of $3.51 and a 12 month high of $7.84. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.11 and a current ratio of 1.55. The stock's 50-day simple moving average is $4.64 and its 200-day simple moving average is $4.58. The firm has a market cap of $542.85 million, a PE ratio of 60.32 and a beta of 0.78.

ARKO (NASDAQ:ARKO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.04 billion. ARKO had a net margin of 0.18% and a return on equity of 5.50%. As a group, equities analysts anticipate that ARKO Corp. will post 0.2 earnings per share for the current fiscal year.

ARKO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.03 per share. The ex-dividend date was Monday, August 18th. This represents a $0.12 annualized dividend and a yield of 2.5%. ARKO's dividend payout ratio is 150.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Capital One Financial assumed coverage on shares of ARKO in a research report on Thursday, May 8th. They set an "overweight" rating and a $8.00 target price for the company. BMO Capital Markets upped their price target on ARKO from $4.50 to $5.00 and gave the stock a "market perform" rating in a report on Monday, May 12th. Raymond James Financial set a $8.00 price objective on shares of ARKO and gave the stock a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen raised shares of ARKO from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Zacks Research raised shares of ARKO to a "strong-buy" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, ARKO has an average rating of "Buy" and an average price target of $7.13.

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.