Arko Corp. (NASDAQ:ARKO – Get Rating) fell 4.5% during trading on Monday after BMO Capital Markets lowered their price target on the stock from $12.00 to $10.00. The company traded as low as $8.14 and last traded at $8.36. 4,732 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 303,250 shares. The stock had previously closed at $8.75.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of ARKO. Public Employees Retirement System of Ohio increased its stake in shares of Arko by 40.5% during the third quarter. Public Employees Retirement System of Ohio now owns 4,172 shares of the company’s stock worth $39,000 after acquiring an additional 1,203 shares during the period. Ensign Peak Advisors Inc acquired a new position in shares of Arko during the third quarter worth about $72,000. Tower Research Capital LLC TRC increased its stake in shares of Arko by 363.9% during the third quarter. Tower Research Capital LLC TRC now owns 9,942 shares of the company’s stock worth $93,000 after acquiring an additional 7,799 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Arko during the third quarter worth about $125,000. Finally, Aigen Investment Management LP acquired a new position in shares of Arko during the third quarter worth about $129,000. 52.25% of the stock is currently owned by institutional investors and hedge funds.
Arko Trading Down 4.5 %
The company has a debt-to-equity ratio of 3.52, a current ratio of 1.72 and a quick ratio of 1.20. The business’s 50 day moving average price is $9.11 and its 200-day moving average price is $9.29. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 17.50 and a beta of 0.28.
Arko Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from Arko’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, November 21st. Arko’s payout ratio is 24.00%.
About Arko
Arko Corp. operates convenience stores in the United States. It operates through three segments: Retail, Wholesale, and GPM Petroleum. The Retail segment engages in the sale of fuel and merchandise to retail consumers. The Wholesale segment supplies fuel to third-party dealers and consignment agents.