Arko Corp. (NASDAQ:ARKO) is Cannell Capital LLC’s 8th Largest Position

Cannell Capital LLC increased its position in shares of Arko Corp. (NASDAQ:ARKO) by 55.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,710,772 shares of the company’s stock after purchasing an additional 971,158 shares during the period. Arko makes up 3.7% of Cannell Capital LLC’s portfolio, making the stock its 8th largest holding. Cannell Capital LLC owned about 2.34% of Arko worth $17,864,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Barclays PLC lifted its stake in Arko by 98.2% in the third quarter. Barclays PLC now owns 171,600 shares of the company’s stock worth $1,203,000 after acquiring an additional 85,009 shares during the period. JPMorgan Chase & Co. grew its position in Arko by 598.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 239,683 shares of the company’s stock worth $1,683,000 after purchasing an additional 205,377 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Arko in the 4th quarter valued at $814,000. Jane Street Group LLC raised its stake in shares of Arko by 12.2% in the third quarter. Jane Street Group LLC now owns 109,881 shares of the company’s stock worth $771,000 after purchasing an additional 11,975 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Arko by 24.0% in the fourth quarter. Bank of New York Mellon Corp now owns 766,295 shares of the company’s stock worth $5,050,000 after acquiring an additional 148,269 shares during the period. Institutional investors own 78.29% of the company’s stock.

Arko Stock Performance

NASDAQ:ARKO opened at $3.76 on Tuesday. The stock has a market capitalization of $435.30 million, a P/E ratio of 23.50 and a beta of 0.68. 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 Corp. has a fifty-two week low of $3.51 and a fifty-two week high of $7.84. The company has a 50 day moving average price of $5.45 and a 200 day moving average price of $6.34.

Arko Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.03 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.12 dividend on an annualized basis and a yield of 3.19%. Arko’s dividend payout ratio (DPR) is presently 92.31%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus downgraded shares of Arko from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.50 to $7.50 in a research report on Thursday, February 27th.

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.