ARKO Corp. (NASDAQ:ARKO – Get Free Report)’s share price was down 10.2% during mid-day trading on Monday following a dissappointing earnings announcement. The company traded as low as $5.06 and last traded at $5.0850. Approximately 290,691 shares were traded during trading, a decline of 63% from the average daily volume of 785,269 shares. The stock had previously closed at $5.66.
The company reported $0.04 earnings per share (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 4.44%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $1.99 billion.
ARKO Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 20th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.12 annualized dividend and a dividend yield of 2.4%. ARKO’s payout ratio is presently 171.43%.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on ARKO
Insiders Place Their Bets
In other ARKO news, General Counsel Maury Bricks sold 10,000 shares of the company’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 owned 162,841 shares in the company, valued at approximately $1,384,148.50. The trade was a 5.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.90% of the stock is owned by insiders.
Hedge Funds Weigh In On ARKO
Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new position in ARKO during the first quarter worth about $8,220,000. Empyrean Capital Partners LP purchased a new stake in ARKO in the 1st quarter valued at about $1,819,000. Dimensional Fund Advisors LP increased its stake in ARKO by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,021,751 shares of the company’s stock valued at $16,800,000 after buying an additional 206,716 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of ARKO during the 2nd quarter worth approximately $316,000. Finally, Empowered Funds LLC lifted its position in shares of ARKO by 9.8% during the 1st quarter. Empowered Funds LLC now owns 511,566 shares of the company’s stock worth $2,844,000 after buying an additional 45,689 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.
ARKO Price Performance
The business has a 50 day moving average price of $7.80 and a two-hundred day moving average price of $6.73. The stock has a market cap of $567.01 million, a PE ratio of 72.49 and a beta of 1.00. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.19 and a current ratio of 1.62.
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.
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