Arko Corp. (NASDAQ:ARKO) Shares Acquired by Cannell Capital LLC

Cannell Capital LLC boosted its stake in Arko Corp. (NASDAQ:ARKO - Free Report) by 55.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,710,772 shares of the company's stock after buying an additional 971,158 shares during the quarter. Arko makes up about 3.7% of Cannell Capital LLC's holdings, making the stock its 8th biggest position. Cannell Capital LLC owned about 2.34% of Arko worth $17,864,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ARKO. Barclays PLC raised its position 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 buying an additional 85,009 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 period. CWA Asset Management Group LLC acquired a new stake in shares of Arko during the fourth quarter worth $814,000. Prudential Financial Inc. purchased a new stake in shares of Arko in the fourth quarter valued at $195,000. Finally, American Century Companies Inc. increased its stake in Arko by 12.2% in the fourth quarter. American Century Companies Inc. now owns 146,511 shares of the company's stock valued at $966,000 after purchasing an additional 15,899 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Arko Trading Up 5.3 %

Shares of Arko stock traded up $0.21 during trading hours on Friday, reaching $4.17. The stock had a trading volume of 786,082 shares, compared to its average volume of 469,414. 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 Corp. has a 1 year low of $3.51 and a 1 year high of $7.84. The firm has a market capitalization of $482.77 million, a price-to-earnings ratio of 26.06 and a beta of 0.68. The firm has a 50 day simple moving average of $5.07 and a two-hundred day simple moving average of $6.22.

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Arko Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Monday, March 10th. Arko's payout ratio is currently 92.31%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered shares of Arko from a "buy" rating to a "hold" rating and dropped their price target 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.