Arko (NASDAQ:ARKO) Trading Up 3.6% – Here’s What Happened

Arko Corp. (NASDAQ:ARKO)’s stock price was up 3.6% during trading on Thursday . The stock traded as high as $6.82 and last traded at $6.86. Approximately 29,382 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 210,559 shares. The stock had previously closed at $6.62.

Arko Stock Up 0.7 %

The stock has a market cap of $813.86 million, a PE ratio of 43.94 and a beta of 0.50. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86. The firm has a fifty day moving average of $6.80 and a 200 day moving average of $6.62.

Arko (NASDAQ:ARKO) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.43 billion. Arko had a net margin of 0.27% and a return on equity of 8.88%. During the same period last year, the company earned $0.17 earnings per share. On average, equities research analysts anticipate that Arko Corp. will post 0.2 EPS for the current fiscal year.

Arko Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Tuesday, November 19th. Arko’s payout ratio is 75.00%.

Institutional Trading of Arko

Several institutional investors and hedge funds have recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new position in Arko during the third quarter worth approximately $39,000. Quantbot Technologies LP purchased a new position in shares of Arko during the third quarter worth approximately $72,000. MQS Management LLC acquired a new position in shares of Arko in the 3rd quarter valued at $77,000. Intech Investment Management LLC purchased a new stake in Arko in the 3rd quarter valued at $98,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Arko by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,893 shares of the company’s stock worth $206,000 after purchasing an additional 1,734 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.