Verition Fund Management LLC acquired a new position in shares of Arko Corp. (NASDAQ:ARKO – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 29,590 shares of the company’s stock, valued at approximately $278,000.
Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Arko by 363.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,942 shares of the company’s stock worth $93,000 after purchasing an additional 7,799 shares during the period. Aigen Investment Management LP purchased a new position in Arko in the 3rd quarter valued at approximately $129,000. Walleye Capital LLC purchased a new position in Arko in the 1st quarter valued at approximately $185,000. Legal & General Group Plc boosted its position in Arko by 18.6% in the 2nd quarter. Legal & General Group Plc now owns 23,912 shares of the company’s stock valued at $195,000 after buying an additional 3,742 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Arko in the 3rd quarter valued at approximately $231,000. Hedge funds and other institutional investors own 52.25% of the company’s stock.
Arko Price Performance
Arko stock opened at $8.70 on Thursday. The stock has a market cap of $1.05 billion, a P/E ratio of 17.40 and a beta of 0.27. The company has a fifty day simple moving average of $8.31 and a 200-day simple moving average of $9.06. Arko Corp. has a 12-month low of $7.49 and a 12-month high of $10.81. The company has a current ratio of 1.67, a quick ratio of 1.18 and a debt-to-equity ratio of 3.44.
Arko Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Thursday, March 9th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.38%. The ex-dividend date is Wednesday, March 8th. Arko’s dividend payout ratio is presently 24.00%.
Wall Street Analyst Weigh In
Separately, BMO Capital Markets decreased their price target on shares of Arko from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, January 9th.
Arko Company Profile
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.
- Get a free copy of the StockNews.com research report on Arko (ARKO)
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