Man Group plc purchased a new position in ARKO Corp. (NASDAQ:ARKO – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 131,249 shares of the company’s stock, valued at approximately $1,054,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in ARKO by 7.3% in the fourth quarter. Cerity Partners LLC now owns 24,671 shares of the company’s stock worth $112,000 after purchasing an additional 1,685 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of ARKO by 0.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 721,977 shares of the company’s stock valued at $3,278,000 after buying an additional 1,992 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 buying an additional 2,028 shares during the period. Russell Investments Group Ltd. grew its position in shares of ARKO by 6.7% in the 4th quarter. Russell Investments Group Ltd. now owns 51,087 shares of the company’s stock worth $232,000 after buying an additional 3,229 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of ARKO by 4.9% in the 4th quarter. Deutsche Bank AG now owns 69,430 shares of the company’s stock worth $315,000 after acquiring an additional 3,250 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.
ARKO Price Performance
Shares of NASDAQ ARKO opened at $4.74 on Thursday. ARKO Corp. has a twelve month low of $3.71 and a twelve month high of $8.76. The firm has a market cap of $531.78 million, a P/E ratio of 67.71 and a beta of 0.91. The company has a 50 day moving average of $6.66 and a 200 day moving average of $6.58. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.
ARKO Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Thursday, August 20th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 20th. ARKO’s dividend payout ratio is presently 171.43%.
Analyst Ratings Changes
A number of research analysts recently issued reports on ARKO shares. Wall Street Zen cut shares of ARKO from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Mizuho set a $22.00 target price on shares of ARKO in a research note on Tuesday, July 28th. Raymond James Financial lowered shares of ARKO from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $8.00 to $7.00 in a report on Monday, August 10th. Zacks Research cut ARKO from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised ARKO from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.50.
Check Out Our Latest Stock Analysis on ARKO
Insider Activity
In related news, General Counsel Maury Bricks sold 15,000 shares of the stock in a transaction 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 sale, the general counsel directly owned 182,841 shares of the company’s stock, valued at $1,406,047.29. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 21.90% of the stock is currently owned by insiders.
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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