Verition Fund Management LLC Sells 20,093 Shares of Arko Corp. (NASDAQ:ARKO)

Verition Fund Management LLC trimmed its stake in Arko Corp. (NASDAQ:ARKO) by 31.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,729 shares of the company’s stock after selling 20,093 shares during the period. Verition Fund Management LLC’s holdings in Arko were worth $314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Arko by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,893 shares of the company’s stock worth $206,000 after acquiring an additional 1,734 shares during the last quarter. CWM LLC raised its position in Arko by 72.8% in the 2nd quarter. CWM LLC now owns 4,791 shares of the company’s stock worth $30,000 after purchasing an additional 2,018 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Arko by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,216 shares of the company’s stock worth $133,000 after purchasing an additional 3,092 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Arko by 27.9% during the second quarter. Arizona State Retirement System now owns 18,476 shares of the company’s stock valued at $116,000 after buying an additional 4,030 shares during the period. Finally, Copeland Capital Management LLC bought a new position in shares of Arko during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Arko Stock Performance

ARKO stock opened at $7.28 on Friday. Arko Corp. has a twelve month low of $4.09 and a twelve month high of $8.42. The firm has a market cap of $842.81 million, a price-to-earnings ratio of 45.50 and a beta of 0.48. The business’s fifty day simple moving average is $6.92 and its two-hundred day simple moving average is $6.50. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86.

Arko (NASDAQ:ARKO) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). Arko had a net margin of 0.27% and a return on equity of 8.88%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. Analysts predict that Arko Corp. will post 0.2 earnings per share for the current year.

Arko Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, November 19th. Arko’s dividend payout ratio is currently 75.00%.

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.