ARKO (NASDAQ:ARKO – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.
Several other research analysts also recently weighed in on ARKO. Weiss Ratings downgraded ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Wall Street Zen downgraded ARKO from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ARKO has an average rating of “Hold” and an average price target of $8.00.
ARKO Stock Performance
ARKO (NASDAQ:ARKO – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.65 billion. ARKO had a net margin of 0.38% and a return on equity of 9.10%. During the same quarter in the prior year, the business earned ($0.12) EPS. As a group, equities analysts forecast that ARKO will post 0.29 earnings per share for the current year.
Insider Activity
In other news, General Counsel Maury Bricks sold 15,000 shares of ARKO stock in a transaction that occurred on Friday, June 5th. The shares were 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 approximately $1,406,047.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.50% of the stock is owned by corporate insiders.
Institutional Trading of ARKO
A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of ARKO by 63.1% in the 1st quarter. AQR Capital Management LLC now owns 117,544 shares of the company’s stock worth $464,000 after buying an additional 45,478 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 acquiring an additional 2,028 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ARKO by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 762,864 shares of the company’s stock worth $3,013,000 after acquiring an additional 206,061 shares during the last quarter. Empowered Funds LLC acquired a new position in ARKO during the first quarter worth about $1,335,000. Finally, Creative Planning lifted its holdings in shares of ARKO by 37.9% in 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 in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.
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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