Gabelli Funds LLC Decreases Stock Holdings in ARKO Corp. $ARKO

Gabelli Funds LLC lowered its position in shares of ARKO Corp. (NASDAQ:ARKO) by 40.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,000 shares of the company’s stock after selling 140,500 shares during the period. Gabelli Funds LLC owned about 0.19% of ARKO worth $960,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ARKO. Lee Financial Co purchased a new stake in ARKO in the 3rd quarter worth approximately $891,000. Phoenix Financial Ltd. raised its holdings in shares of ARKO by 20.4% during the third quarter. Phoenix Financial Ltd. now owns 7,309,430 shares of the company’s stock valued at $33,404,000 after acquiring an additional 1,239,512 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in ARKO in the third quarter worth $2,444,000. Teton Advisors LLC purchased a new stake in ARKO in the third quarter worth $594,000. Finally, Rock Creek Group LP bought a new stake in ARKO in the second quarter valued at $158,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

ARKO Trading Down 2.3%

Shares of NASDAQ ARKO opened at $5.55 on Thursday. ARKO Corp. has a 1 year low of $3.51 and a 1 year high of $6.70. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.66 and a quick ratio of 1.22. The firm has a 50-day moving average of $5.63 and a 200 day moving average of $4.97. The stock has a market cap of $615.45 million, a P/E ratio of 39.65 and a beta of 0.83.

ARKO (NASDAQ:ARKO) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. ARKO had a return on equity of 8.58% and a net margin of 0.30%.The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.81 billion. As a group, sell-side analysts expect that ARKO Corp. will post 0.2 EPS for the current fiscal year.

ARKO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, March 10th. ARKO’s dividend payout ratio is 85.71%.

Wall Street Analyst Weigh In

ARKO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of ARKO in a research report on Monday, December 29th. Wall Street Zen raised shares of ARKO from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.00.

About ARKO

ARKO Corp (NASDAQ: ARKO) is a downstream energy and convenience retail company based in Matthews, North Carolina. The company’s core operations encompass fuel supply, distribution and retailing through a network of terminals, independent dealer locations and company-operated convenience stores. ARKO’s fuel offerings include branded and unbranded gasoline and diesel, as well as lubricants and other petroleum products marketed under various regional and private labels.

In its retail segment, ARKO operates a portfolio of convenience stores under the Kangaroo Express banner, serving on-site customers with fuel, grab-and-go food items, beverages and everyday household essentials.