ARKO (NASDAQ:ARKO) Shares Up 3.1% – Here’s Why

Shares of ARKO Corp. (NASDAQ:ARKO) were up 3.1% on Wednesday . The stock traded as high as $8.14 and last traded at $8.09. Approximately 605,138 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 969,968 shares. The stock had previously closed at $7.85.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Wall Street Zen cut ARKO from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Zacks Research upgraded ARKO from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $8.00.

ARKO Trading Up 1.3%

The firm has a market capitalization of $905.37 million, a PE ratio of 42.48 and a beta of 0.99. The firm has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $6.28. The company has a current ratio of 1.62, a quick ratio of 1.19 and a debt-to-equity ratio of 1.93.

ARKO (NASDAQ:ARKO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.07) EPS 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 analysts’ expectations 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 firm posted ($0.12) earnings per share. Equities analysts expect that ARKO Corp. will post 0.29 earnings per share for the current fiscal year.

ARKO Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.03 per share. The ex-dividend date was Monday, May 18th. This represents a $0.12 dividend on an annualized basis and a yield of 1.5%. ARKO’s dividend payout ratio is 63.16%.

Insider Buying and Selling

In other ARKO news, General Counsel Maury Bricks sold 10,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the general counsel directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.50% of the company’s stock.

Institutional Investors Weigh In On ARKO

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of ARKO by 106.8% in the first quarter. Bank of America Corp DE now owns 273,251 shares of the company’s stock worth $1,519,000 after acquiring an additional 141,127 shares during the period. Royal Bank of Canada boosted its stake in ARKO by 201.9% in the 1st quarter. Royal Bank of Canada now owns 6,681 shares of the company’s stock worth $37,000 after purchasing an additional 4,468 shares during the period. Empowered Funds LLC grew its holdings in ARKO by 9.8% during the 1st quarter. Empowered Funds LLC now owns 511,566 shares of the company’s stock valued at $2,844,000 after buying an additional 45,689 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in shares of ARKO during the first quarter valued at approximately $1,819,000. Finally, Renaissance Technologies LLC raised its position in shares of ARKO by 152.7% during the first quarter. Renaissance Technologies LLC now owns 80,100 shares of the company’s stock valued at $445,000 after buying an additional 48,400 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.