Arko Corp. (NASDAQ:ARKO) is CM Management LLC’s Largest Position

CM Management LLC lifted its stake in shares of Arko Corp. (NASDAQ:ARKO) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,050,000 shares of the company’s stock after acquiring an additional 30,000 shares during the period. Arko accounts for approximately 6.0% of CM Management LLC’s portfolio, making the stock its biggest position. CM Management LLC owned about 0.91% of Arko worth $6,920,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of Arko during the 4th quarter worth approximately $66,000. Quantbot Technologies LP acquired a new position in Arko during the third quarter worth $72,000. MQS Management LLC purchased a new stake in shares of Arko in the 3rd quarter worth about $77,000. Intech Investment Management LLC purchased a new stake in shares of Arko in the third quarter valued at about $98,000. Finally, Raymond James Financial Inc. purchased a new stake in Arko in the 4th quarter valued at approximately $368,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Arko Stock Up 2.2 %

Shares of ARKO stock opened at $4.12 on Friday. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.13 and a current ratio of 1.63. The business’s fifty day moving average is $6.54 and its 200-day moving average is $6.68. Arko Corp. has a 1 year low of $3.86 and a 1 year high of $7.84. The stock has a market cap of $476.98 million, a PE ratio of 25.75 and a beta of 0.61.

Arko Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, March 10th. Arko’s payout ratio is 92.31%.

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.