Arrowstreet Capital Limited Partnership purchased a new position in ARKO Corp. (NASDAQ:ARKO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,478,342 shares of the company's stock, valued at approximately $8,220,000. Arrowstreet Capital Limited Partnership owned about 1.32% of ARKO at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in ARKO by 63.1% during the first quarter. AQR Capital Management LLC now owns 117,544 shares of the company's stock worth $464,000 after purchasing an additional 45,478 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ARKO by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,838 shares of the company's stock valued at $189,000 after buying an additional 2,028 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of ARKO by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 762,864 shares of the company's stock valued at $3,013,000 after buying an additional 206,061 shares during the period. Empowered Funds LLC acquired a new stake in shares of ARKO during the 1st quarter worth $1,335,000. Finally, Creative Planning increased its holdings in shares of ARKO by 37.9% during the 2nd quarter. Creative Planning now owns 15,156 shares of the company's stock worth $64,000 after buying an additional 4,163 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.
Insiders Place Their Bets
In other news, General Counsel Maury Bricks sold 15,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $7.69, for a total transaction of $115,350.00. Following the completion of the sale, the general counsel directly owned 182,841 shares in the company, valued at $1,406,047.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.50% of the stock is currently owned by insiders.
ARKO Trading Down 0.7%
ARKO opened at $7.99 on Friday. The firm's 50 day moving average is $7.86 and its 200-day moving average is $6.64. ARKO Corp. has a 52-week low of $3.71 and a 52-week high of $8.76. The company has a quick ratio of 1.19, a current ratio of 1.62 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $896.40 million, a P/E ratio of 42.05 and a beta of 0.99.
ARKO (NASDAQ:ARKO - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.09. ARKO had a net margin of 0.38% and a return on equity of 9.10%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned ($0.12) earnings per share. Analysts expect that ARKO Corp. will post 0.29 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ARKO has been the subject of several research analyst reports. Wall Street Zen lowered ARKO from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. Weiss Ratings lowered ARKO from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, May 21st. Mizuho set a $22.00 target price on ARKO in a report on Tuesday. Finally, Zacks Research downgraded shares of ARKO from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.00.
Read Our Latest Stock Analysis on ARKO
About ARKO
(
Free Report)
ARKO Corp NASDAQ: ARKO is a downstream energy and convenience retail company based in Matthews, North Carolina. The company's core operations encompass fuel supply, distribution and retailing through a network of terminals, independent dealer locations and company-operated convenience stores. ARKO's fuel offerings include branded and unbranded gasoline and diesel, as well as lubricants and other petroleum products marketed under various regional and private labels.
In its retail segment, ARKO operates a portfolio of convenience stores under the Kangaroo Express banner, serving on-site customers with fuel, grab-and-go food items, beverages and everyday household essentials.
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