Arko (NASDAQ:ARKO) Shares Gap Up to $6.11

Arko Corp. (NASDAQ:ARKOGet Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $6.11, but opened at $6.28. Arko shares last traded at $6.31, with a volume of 5,880 shares traded.

Wall Street Analysts Forecast Growth

ARKO has been the subject of several research reports. Wells Fargo & Company cut their price target on Arko from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. BMO Capital Markets decreased their target price on shares of Arko from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Thursday, May 9th.

Check Out Our Latest Analysis on ARKO

Arko Stock Performance

The company’s 50-day moving average price is $5.38 and its two-hundred day moving average price is $6.54. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 4.13. The company has a market cap of $732.63 million, a P/E ratio of 24.27 and a beta of 0.45.

Arko (NASDAQ:ARKOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.15. Arko had a return on equity of 13.20% and a net margin of 0.39%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.11 billion. As a group, equities analysts forecast that Arko Corp. will post 0.54 earnings per share for the current year.

Arko Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, May 17th. Arko’s dividend payout ratio (DPR) is presently 46.16%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Swiss National Bank raised its holdings in shares of Arko by 23.6% in the 3rd quarter. Swiss National Bank now owns 145,461 shares of the company’s stock worth $1,040,000 after buying an additional 27,800 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Arko by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,010,381 shares of the company’s stock valued at $7,224,000 after purchasing an additional 42,177 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Arko in the third quarter valued at about $123,000. Dark Forest Capital Management LP bought a new stake in Arko during the 3rd quarter worth about $101,000. Finally, MQS Management LLC acquired a new stake in shares of Arko in the third quarter valued at approximately $95,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

About Arko

(Get Free Report)

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.

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