Arko (NASDAQ:ARKO) Shares Gap Down – Here’s What Happened

Arko Corp. (NASDAQ:ARKO) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.26, but opened at $6.00. Arko shares last traded at $4.79, with a volume of 1,121,603 shares.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus downgraded shares of Arko from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.50 to $7.50 in a report on Thursday.

Arko Stock Down 0.2 %

The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.13 and a current ratio of 1.63. The firm has a market capitalization of $522.13 million, a PE ratio of 28.19 and a beta of 0.50. The company’s 50 day simple moving average is $6.78 and its 200-day simple moving average is $6.76.

Arko Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Monday, March 10th. Arko’s dividend payout ratio is presently 75.00%.

Institutional Trading of Arko

Several institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Arko by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,810 shares of the company’s stock worth $302,000 after purchasing an additional 1,572 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Arko by 90.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,742 shares of the company’s stock valued at $64,000 after buying an additional 4,639 shares in the last quarter. Teton Advisors Inc. raised its position in shares of Arko by 5.0% during the 4th quarter. Teton Advisors Inc. now owns 105,000 shares of the company’s stock valued at $692,000 after buying an additional 5,000 shares in the last quarter. PDT Partners LLC raised its position in shares of Arko by 8.7% during the 3rd quarter. PDT Partners LLC now owns 75,685 shares of the company’s stock valued at $531,000 after buying an additional 6,031 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Arko by 25.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,373 shares of the company’s stock valued at $214,000 after buying an additional 6,497 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.