Gabelli Funds LLC Cuts Holdings in ARKO Corp. $ARKO

Gabelli Funds LLC lowered its holdings in ARKO Corp. (NASDAQ:ARKO) by 40.1% in the 3rd quarter, Holdings Channel reports. The firm owned 210,000 shares of the company’s stock after selling 140,500 shares during the period. Gabelli Funds LLC’s holdings in ARKO were worth $960,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in ARKO by 193.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,317 shares of the company’s stock worth $52,000 after buying an additional 8,115 shares during the last quarter. CWM LLC grew its stake in shares of ARKO by 131.8% in the third quarter. CWM LLC now owns 12,932 shares of the company’s stock worth $59,000 after acquiring an additional 7,353 shares during the period. Creative Planning raised its holdings in shares of ARKO by 37.9% during 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 during the last quarter. Engineers Gate Manager LP purchased a new stake in ARKO in the second quarter worth approximately $88,000. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in ARKO in the second quarter worth approximately $88,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of ARKO in a research note on Monday, December 29th. Wall Street Zen raised ARKO from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

ARKO Stock Down 2.3%

Shares of ARKO stock opened at $5.55 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 4.02. ARKO Corp. has a 12 month low of $3.51 and a 12 month high of $6.70. The stock has a market cap of $615.45 million, a P/E ratio of 39.65 and a beta of 0.83. The company has a 50 day simple moving average of $5.63 and a two-hundred day simple moving average of $4.97.

ARKO (NASDAQ:ARKO) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. ARKO had a net margin of 0.30% and a return on equity of 8.58%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.81 billion. On average, research analysts expect that ARKO Corp. will post 0.2 earnings per share for the current year.

ARKO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.12 annualized dividend and a dividend yield of 2.2%. ARKO’s dividend payout ratio (DPR) is 85.71%.

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.