ARKO Corp. (NASDAQ:ARKO – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $7.35 and last traded at $7.19, with a volume of 1946 shares trading hands. The stock had previously closed at $7.15.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ARKO. Weiss Ratings raised shares of ARKO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of ARKO from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded ARKO from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $8.00.
Check Out Our Latest Report on ARKO
ARKO Stock Performance
ARKO (NASDAQ:ARKO – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.07) earnings per share (EPS) 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 analysts’ expectations of $1.65 billion. During the same period last year, the firm posted ($0.12) earnings per share. On average, equities research analysts anticipate that ARKO Corp. will post 0.29 earnings per share for the current year.
ARKO Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, May 18th. This represents a $0.12 annualized dividend and a dividend yield of 1.7%. ARKO’s dividend payout ratio (DPR) is 63.16%.
Insider Activity at ARKO
In other news, CFO Charles Galagher Jeff acquired 40,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $5.07 per share, with a total value of $202,800.00. Following the purchase, the chief financial officer owned 40,000 shares of the company’s stock, valued at approximately $202,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of ARKO. AQR Capital Management LLC raised its position in ARKO by 63.1% in the first quarter. AQR Capital Management LLC now owns 117,544 shares of the company’s stock worth $464,000 after acquiring an additional 45,478 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ARKO by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,838 shares of the company’s stock worth $189,000 after purchasing an additional 2,028 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ARKO by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 762,864 shares of the company’s stock worth $3,013,000 after purchasing an additional 206,061 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of ARKO in the 1st quarter worth approximately $1,335,000. Finally, Creative Planning lifted its stake in ARKO by 37.9% during the second quarter. Creative Planning now owns 15,156 shares of the company’s stock valued at $64,000 after purchasing an additional 4,163 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.
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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