ARKO (NASDAQ:ARKO) Announces Earnings Results

ARKO (NASDAQ:ARKO) announced its quarterly earnings data on Thursday. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.15 by $0.11, FiscalAI reports. ARKO had a net margin of 0.38% and a return on equity of 9.10%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.99 billion.

ARKO Stock Performance

Shares of NASDAQ ARKO traded down $0.07 during midday trading on Thursday, reaching $7.29. 919,341 shares of the stock were exchanged, compared to its average volume of 583,539. The company has a quick ratio of 1.19, a current ratio of 1.62 and a debt-to-equity ratio of 1.93. The firm has a market cap of $817.87 million, a price-to-earnings ratio of 38.37 and a beta of 1.00. The firm has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $6.72. ARKO has a twelve month low of $3.71 and a twelve month high of $8.76.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARKO shares. Mizuho set a $22.00 price objective on shares of ARKO in a research note on Tuesday, July 28th. Zacks Research lowered shares of ARKO from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen downgraded ARKO from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings lowered ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ARKO has an average rating of “Hold” and an average price target of $15.00.

Insider Transactions at ARKO

In related news, General Counsel Maury Bricks sold 10,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the general counsel directly owned 162,841 shares of the company’s stock, valued at approximately $1,384,148.50. This represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 21.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of ARKO by 193.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,317 shares of the company’s stock valued at $52,000 after acquiring an additional 8,115 shares during the period. Banco BTG Pactual S.A. acquired a new position in ARKO in the 4th quarter worth about $57,000. Kemnay Advisory Services Inc. purchased a new position in ARKO during the fourth quarter worth approximately $58,000. Mariner LLC purchased a new position in ARKO during the fourth quarter worth approximately $60,000. Finally, BNP Paribas Financial Markets grew its holdings in ARKO by 104.3% in the third quarter. BNP Paribas Financial Markets now owns 14,945 shares of the company’s stock valued at $68,000 after purchasing an additional 7,631 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

About ARKO

ARKO Corp (NASDAQ: ARKO) is a downstream energy and convenience retail company based in Matthews, North Carolina. The company’s core operations encompass fuel supply, distribution and retailing through a network of terminals, independent dealer locations and company-operated convenience stores. ARKO’s fuel offerings include branded and unbranded gasoline and diesel, as well as lubricants and other petroleum products marketed under various regional and private labels.

In its retail segment, ARKO operates a portfolio of convenience stores under the Kangaroo Express banner, serving on-site customers with fuel, grab-and-go food items, beverages and everyday household essentials.