Arko (NASDAQ:ARKO) Shares Gap Down – Here’s What Happened

Shares of Arko Corp. (NASDAQ:ARKO) gapped down prior to trading on Thursday . The stock had previously closed at $7.26, but opened at $6.00. Arko shares last traded at $4.79, with a volume of 1,121,603 shares traded.

Analyst Upgrades and Downgrades

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

Arko Stock Down 0.2 %

The stock’s 50-day moving average price is $6.78 and its two-hundred day moving average price is $6.76. The stock has a market capitalization of $522.13 million, a P/E ratio of 28.19 and a beta of 0.50. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 3.86.

Arko Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, March 10th. Arko’s dividend payout ratio is currently 75.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Arko during the 4th quarter valued at approximately $53,000. Tower Research Capital LLC TRC grew its position in shares of Arko by 90.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,742 shares of the company’s stock valued at $64,000 after acquiring an additional 4,639 shares during the period. KLP Kapitalforvaltning AS bought a new position in Arko in the 4th quarter worth approximately $66,000. Victory Capital Management Inc. bought a new position in Arko in the 4th quarter worth approximately $66,000. Finally, Quantbot Technologies LP bought a new position in Arko in the 3rd quarter worth approximately $72,000. 78.29% of the stock is owned by institutional investors.

About Arko

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.