Arko Corp. (NASDAQ:ARKO) Short Interest Update
Arko Corp. (NASDAQ:ARKO) experienced a significant rise in short interest, reaching 4,620,000 shares by March 31, a 51.5% increase from March 15. This represents approximately 6.3% of the company's stock. The days-to-cover ratio is 6.3 days based on an average daily trading volume of 739,000 shares. Hedge funds have increased their stakes in Arko, with Barclays and JPMorgan making notable purchases. Analysts have downgraded Arko from a "buy" to a "hold" rating, with a price target reduction from $8.50 to $7.50. The company also declared a quarterly dividend of $0.03 per share.
Arko Corp. (NASDAQ:ARKO - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,620,000 shares, an increase of 51.5% from the March 15th total of 3,050,000 shares. Approximately 6.3% of the shares of the stock are short sold. Based on an average daily volume of 739,000 shares, the short-interest ratio is presently 6.3 days.
Institutional Trading of Arko
Several hedge funds have recently modified their holdings of ARKO. Barclays PLC grew its holdings in shares of Arko by 98.2% in the third quarter. Barclays PLC now owns 171,600 shares of the company's stock valued at $1,203,000 after purchasing an additional 85,009 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arko by 598.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 239,683 shares of the company's stock worth $1,683,000 after buying an additional 205,377 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Arko in the 4th quarter worth about $814,000. Prudential Financial Inc. purchased a new stake in shares of Arko during the 4th quarter valued at about $195,000. Finally, American Century Companies Inc. lifted its holdings in shares of Arko by 12.2% in the 4th quarter. American Century Companies Inc. now owns 146,511 shares of the company's stock valued at $966,000 after acquiring an additional 15,899 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus lowered shares of Arko from a "buy" rating to a "hold" rating and cut their price objective for the company from $8.50 to $7.50 in a report on Thursday, February 27th.
Get Our Latest Research Report on ARKO
Arko Stock Performance
Shares of Arko stock opened at $3.98 on Thursday. Arko has a twelve month low of $2.68 and a twelve month high of $7.84. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86. The business has a 50-day moving average price of $4.90 and a 200-day moving average price of $6.17. The firm has a market cap of $460.77 million, a price-to-earnings ratio of 24.88 and a beta of 0.68.
Arko Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, March 10th. Arko's dividend payout ratio is presently 92.31%.
Arko Company Profile
(Get Free Report)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.
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