Los Angeles Capital Management LLC Lowers Position in Arko Corp. (NASDAQ:ARKO)

Los Angeles Capital Management LLC decreased its holdings in shares of Arko Corp. (NASDAQ:ARKO) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,001 shares of the company’s stock after selling 4,900 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Arko were worth $267,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC grew its stake 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 buying an additional 2,018 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Arko in the third quarter worth $39,000. Arizona State Retirement System increased its stake in Arko by 27.9% in the second quarter. Arizona State Retirement System now owns 18,476 shares of the company’s stock valued at $116,000 after acquiring an additional 4,030 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Arko during the second quarter valued at about $119,000. Finally, MQS Management LLC bought a new stake in Arko during the first quarter worth about $132,000. 78.29% of the stock is currently owned by institutional investors.

Arko Price Performance

Shares of Arko stock opened at $6.52 on Tuesday. The stock has a market capitalization of $754.82 million, a price-to-earnings ratio of 40.75 and a beta of 0.47. The company has a fifty day moving average of $6.78 and a 200-day moving average of $6.28. Arko Corp. has a 52-week low of $4.09 and a 52-week high of $8.42. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.13 and a current ratio of 1.63.

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

Arko Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, November 19th. Arko’s dividend payout ratio (DPR) is presently 75.00%.

Analyst Upgrades and Downgrades

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

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.