Empowered Funds LLC Purchases Shares of 581,717 ARKO Corp. $ARKO

Key Points

• Empowered Funds LLC acquired 581,717 ARKO shares worth approximately $4.67 million, representing about 0.52% of the company. Institutional investors collectively own 78.29% of ARKO.
• Analyst sentiment is mixed, with ARKO carrying a consensus “Hold” rating and an average price target of $14.50; Raymond James lowered its target from $8 to $7.
• ARKO reported quarterly revenue of $2.35 billion but missed earnings estimates, posting $0.04 EPS versus the expected $0.15. The company also declared a $0.03 quarterly dividend, equating to a 2.6% yield.

Empowered Funds LLC acquired a new position in shares of ARKO Corp. (NASDAQ:ARKO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 581,717 shares of the company's stock, valued at approximately $4,671,000. Empowered Funds LLC owned approximately 0.52% of ARKO at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of ARKO by 201.9% in the 1st quarter. Royal Bank of Canada now owns 6,681 shares of the company's stock valued at $37,000 after buying an additional 4,468 shares in the last quarter. MQS Management LLC acquired a new stake in ARKO during the 4th quarter worth $47,000. Tower Research Capital LLC TRC raised its stake in ARKO by 193.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,317 shares of the company's stock worth $52,000 after acquiring an additional 8,115 shares in the last quarter. Banco BTG Pactual S.A. purchased a new stake in ARKO in the fourth quarter valued at $57,000. Finally, Legal & General Group Plc purchased a new stake in ARKO in the second quarter valued at $58,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Transactions at ARKO

In other ARKO news, General Counsel Maury Bricks sold 15,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $1,406,047.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ARKO shares. Mizuho set a $22.00 price objective on ARKO in a report on Tuesday, July 28th. Zacks Research downgraded ARKO from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Wall Street Zen cut ARKO from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. Raymond James Financial cut ARKO from a "strong-buy" rating to an "outperform" rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Monday, August 10th. Finally, Weiss Ratings upgraded ARKO from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ARKO currently has a consensus rating of "Hold" and an average price target of $14.50.

ARKO Stock Up 4.3%

Shares of NASDAQ:ARKO opened at $4.56 on Tuesday. ARKO Corp. has a 1-year low of $3.71 and a 1-year high of $8.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.15. The stock has a market cap of $511.59 million, a P/E ratio of 65.14 and a beta of 1.00. The firm has a fifty day moving average price of $6.78 and a 200 day moving average price of $6.60.

ARKO (NASDAQ:ARKO - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.11). ARKO had a net margin of 0.19% and a return on equity of 4.02%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts predict that ARKO Corp. will post 0.11 EPS for the current year.

ARKO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Thursday, August 20th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, August 20th. ARKO's payout ratio is 171.43%.

About ARKO

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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