ARKO Corp. (NASDAQ:ARKO – Get Free Report) dropped 5.8% on Monday . The stock traded as low as $8.08 and last traded at $8.1310. Approximately 351,877 shares traded hands during trading, a decline of 54% from the average daily volume of 772,709 shares. The stock had previously closed at $8.63.
Analysts Set New Price Targets
ARKO has been the topic of several recent research reports. Weiss Ratings lowered ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Wall Street Zen lowered ARKO from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Zacks Research upgraded ARKO from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.00.
Check Out Our Latest Stock Report on ARKO
ARKO Trading Down 3.1%
ARKO (NASDAQ:ARKO – Get Free Report) last posted 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. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.65 billion. ARKO had a return on equity of 9.10% and a net margin of 0.38%.During the same period last year, the company earned ($0.12) earnings per share. On average, analysts forecast that ARKO Corp. will post 0.29 earnings per share for the current fiscal year.
ARKO Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, May 18th. ARKO’s dividend payout ratio (DPR) is currently 63.16%.
Insider Activity
In other news, General Counsel Maury Bricks sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the general counsel directly owned 162,841 shares of the company’s stock, valued at approximately $1,384,148.50. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.50% of the company’s stock.
Institutional Investors Weigh In On ARKO
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC grew its position in shares of ARKO by 7.3% in the fourth quarter. Cerity Partners LLC now owns 24,671 shares of the company’s stock valued at $112,000 after purchasing an additional 1,685 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of ARKO by 0.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 721,977 shares of the company’s stock valued at $3,278,000 after purchasing an additional 1,992 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of ARKO by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,838 shares of the company’s stock valued at $189,000 after purchasing an additional 2,028 shares during the last quarter. SG Americas Securities LLC grew its position in shares of ARKO by 30.9% in the fourth quarter. SG Americas Securities LLC now owns 13,225 shares of the company’s stock valued at $60,000 after purchasing an additional 3,124 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of ARKO by 6.7% in the fourth quarter. Russell Investments Group Ltd. now owns 51,087 shares of the company’s stock valued at $232,000 after purchasing an additional 3,229 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.
ARKO Company Profile
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.
Recommended Stories
- Five stocks we like better than ARKO
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Receive News & Ratings for ARKO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARKO and related companies with MarketBeat.com's FREE daily email newsletter.
