Aristeia Capital L.L.C. Purchases Shares of 77,819 Arko Corp. (NASDAQ:ARKO)

Aristeia Capital L.L.C. acquired a new position in Arko Corp. (NASDAQ:ARKO) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 77,819 shares of the company’s stock, valued at approximately $488,000. Aristeia Capital L.L.C. owned 0.07% of Arko at the end of the most recent reporting period.

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

Arko Trading Down 0.3 %

NASDAQ ARKO opened at $6.89 on Tuesday. The company’s fifty day simple moving average is $6.34 and its 200-day simple moving average is $5.81. The stock has a market cap of $797.48 million, a P/E ratio of 26.50 and a beta of 0.45. Arko Corp. has a 52 week low of $4.09 and a 52 week high of $8.42. The company has a current ratio of 1.58, a quick ratio of 1.06 and a debt-to-equity ratio of 3.97.

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). Arko had a net margin of 0.39% and a return on equity of 13.12%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities research analysts predict that Arko Corp. will post 0.31 EPS for the current fiscal year.

Arko Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, August 19th. This represents a $0.12 annualized dividend and a yield of 1.74%. Arko’s dividend payout ratio is presently 46.15%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their target price on Arko from $5.00 to $6.25 and gave the company an “equal weight” rating in a research note on Thursday, August 8th.

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.