Arko (NASDAQ:ARKO) Shares Gap Up to $6.65

Arko Corp. (NASDAQ:ARKO)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.65, but opened at $6.81. Arko shares last traded at $6.94, with a volume of 47,235 shares changing hands.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their target price on shares of Arko from $5.00 to $6.25 and gave the stock an “equal weight” rating in a report on Thursday, August 8th.

Arko Price Performance

The company has a quick ratio of 1.06, a current ratio of 1.58 and a debt-to-equity ratio of 3.97. The business has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $5.79. The company has a market capitalization of $806.74 million, a P/E ratio of 27.04 and a beta of 0.45.

Arko (NASDAQ:ARKO) last announced its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.41 billion. Arko had a net margin of 0.39% and a return on equity of 13.12%. During the same period in the previous year, the firm earned $0.11 EPS. Analysts predict that Arko Corp. will post 0.31 EPS for the current fiscal year.

Arko Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.12 annualized dividend and a yield of 1.72%. Arko’s payout ratio is 46.15%.

Institutional Trading of Arko

A number of institutional investors have recently made changes to their positions in ARKO. Vanguard Group Inc. raised its holdings in Arko by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,828,020 shares of the company’s stock worth $21,820,000 after purchasing an additional 82,831 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Arko by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,039,264 shares of the company’s stock worth $8,574,000 after buying an additional 28,883 shares in the last quarter. CM Management LLC raised its stake in shares of Arko by 41.7% in the 2nd quarter. CM Management LLC now owns 1,020,000 shares of the company’s stock worth $6,395,000 after buying an additional 300,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Arko by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 666,222 shares of the company’s stock valued at $4,177,000 after buying an additional 59,751 shares during the period. Finally, Gabelli Funds LLC boosted its stake in Arko by 12.8% during the second quarter. Gabelli Funds LLC now owns 132,000 shares of the company’s stock valued at $828,000 after buying an additional 15,000 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Arko Company Profile

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.