ARKO (NASDAQ:ARKO) Shares Down 4.1% – Here’s What Happened

ARKO Corp. (NASDAQ:ARKO)’s share price fell 4.1% on Thursday . The stock traded as low as $4.49 and last traded at $4.48. Approximately 137,472 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 832,155 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ARKO. Mizuho set a $22.00 price target on shares of ARKO in a research report on Tuesday, July 28th. Zacks Research cut shares of ARKO from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Raymond James Financial downgraded shares of ARKO from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $8.00 to $7.00 in a research note on Monday, August 10th. Wall Street Zen lowered ARKO from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Weiss Ratings raised ARKO from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.50.

ARKO Trading Down 3.7%

The stock has a market cap of $504.28 million, a price-to-earnings ratio of 64.21 and a beta of 1.00. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.15 and a current ratio of 1.60. The company’s 50 day simple moving average is $6.96 and its two-hundred day simple moving average is $6.65.

ARKO (NASDAQ:ARKO) last released its earnings results on Friday, August 7th. 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 return on equity of 4.02% and a net margin of 0.19%.The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Research analysts expect that ARKO Corp. will post 0.11 EPS for the current fiscal year.

ARKO Dividend Announcement

The company also recently disclosed 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. This represents a $0.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, August 20th. ARKO’s dividend payout ratio (DPR) is currently 171.43%.

Insider Transactions at ARKO

In related news, General Counsel Maury Bricks sold 10,000 shares of ARKO stock in a transaction on Thursday, June 11th. The stock was 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 owned 162,841 shares of the company’s stock, valued at approximately $1,384,148.50. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.90% of the company’s stock.

Institutional Investors Weigh In On ARKO

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of ARKO by 201.9% during the 1st quarter. Royal Bank of Canada now owns 6,681 shares of the company’s stock valued at $37,000 after buying an additional 4,468 shares during the last quarter. Legal & General Group Plc bought a new position in ARKO during the second quarter valued at approximately $58,000. California State Teachers Retirement System raised its position in ARKO by 106.1% during the second quarter. California State Teachers Retirement System now owns 8,006 shares of the company’s stock valued at $64,000 after acquiring an additional 4,122 shares in the last quarter. MQS Management LLC acquired a new stake in ARKO in the fourth quarter valued at approximately $47,000. Finally, Tower Research Capital LLC TRC lifted its stake in ARKO by 193.1% in the second quarter. Tower Research Capital LLC TRC now owns 12,317 shares of the company’s stock valued at $52,000 after acquiring an additional 8,115 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.