Rhumbline Advisers Acquires 16,745 Shares of Arko Corp. (NASDAQ:ARKO)

Rhumbline Advisers raised its holdings in shares of Arko Corp. (NASDAQ:ARKO) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,596 shares of the company’s stock after purchasing an additional 16,745 shares during the period. Rhumbline Advisers owned 0.11% of Arko worth $819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARKO. CWM LLC raised its position in shares of Arko by 72.8% in the 2nd quarter. CWM LLC now owns 4,791 shares of the company’s stock worth $30,000 after acquiring an additional 2,018 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Arko in the 1st quarter worth approximately $61,000. SG Americas Securities LLC bought a new position in shares of Arko in the 2nd quarter worth approximately $119,000. MQS Management LLC bought a new position in shares of Arko in the 1st quarter worth approximately $132,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Arko by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,216 shares of the company’s stock worth $133,000 after acquiring an additional 3,092 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Arko Stock Down 0.3 %

ARKO stock opened at $6.89 on Tuesday. The firm has a market cap of $797.48 million, a PE ratio of 26.50 and a beta of 0.45. The business has a 50 day moving average of $6.34 and a 200 day moving average of $5.81. Arko Corp. has a twelve month low of $4.09 and a twelve month high of $8.42. The company has a quick ratio of 1.06, a current ratio of 1.58 and a debt-to-equity ratio of 3.97.

Arko (NASDAQ:ARKO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.41 billion. Arko had a return on equity of 13.12% and a net margin of 0.39%. During the same period in the previous year, the firm earned $0.11 EPS. On average, research analysts forecast that Arko Corp. will post 0.31 EPS for the current fiscal year.

Arko Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Monday, August 19th. Arko’s dividend payout ratio is presently 46.15%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their target price on Arko from $5.00 to $6.25 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th.

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.