Neuberger Berman Group LLC Cuts Stock Holdings in ARKO Corp. $ARKO

Neuberger Berman Group LLC lessened its stake in ARKO Corp. (NASDAQ:ARKO) by 27.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,659 shares of the company’s stock after selling 13,351 shares during the quarter. Neuberger Berman Group LLC’s holdings in ARKO were worth $147,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake 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. Gabelli Funds LLC grew its holdings in shares of ARKO by 134.5% during the 1st quarter. Gabelli Funds LLC now owns 333,000 shares of the company’s stock worth $1,315,000 after purchasing an additional 191,000 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of ARKO during the 1st quarter worth about $45,000. Nuveen LLC acquired a new stake in ARKO during the 1st quarter worth approximately $1,284,000. Finally, Gamco Investors INC. ET AL raised its holdings in ARKO by 87.5% in the first quarter. Gamco Investors INC. ET AL now owns 352,118 shares of the company’s stock valued at $1,391,000 after buying an additional 164,288 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARKO. Wall Street Zen upgraded shares of ARKO from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Raymond James Financial set a $8.00 target price on shares of ARKO and gave the company a “strong-buy” rating in a report on Friday, August 8th. Zacks Research downgraded ARKO from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of ARKO in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.13.

ARKO Trading Down 0.2%

NASDAQ ARKO opened at $4.75 on Friday. The stock has a market cap of $529.30 million, a P/E ratio of 59.38 and a beta of 0.78. The company’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $4.56. The company has a current ratio of 1.55, a quick ratio of 1.11 and a debt-to-equity ratio of 4.07. ARKO Corp. has a 52 week low of $3.51 and a 52 week high of $7.84.

ARKO (NASDAQ:ARKO) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). ARKO had a return on equity of 5.50% and a net margin of 0.18%.The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Equities research analysts predict that ARKO Corp. will post 0.2 EPS for the current fiscal year.

ARKO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.03 dividend. The ex-dividend date is Monday, November 17th. This represents a $0.12 annualized dividend and a dividend yield of 2.5%. ARKO’s payout ratio is 109.09%.

About ARKO

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.