Arko Corp. (NASDAQ:ARKO) Stake Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in shares of Arko Corp. (NASDAQ:ARKO) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,457 shares of the company’s stock after selling 5,893 shares during the quarter. Alliancebernstein L.P.’s holdings in Arko were worth $557,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in Arko during the fourth quarter worth $66,000. KLP Kapitalforvaltning AS acquired a new position in shares of Arko during the fourth quarter worth approximately $66,000. Prudential Financial Inc. acquired a new position in Arko during the 4th quarter valued at $195,000. Intech Investment Management LLC lifted its stake in shares of Arko by 114.7% in the fourth quarter. Intech Investment Management LLC now owns 30,073 shares of the company’s stock valued at $198,000 after buying an additional 16,069 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Arko in the 4th quarter worth approximately $368,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Arko Stock Up 3.0 %

Arko stock opened at $4.10 on Friday. Arko Corp. has a fifty-two week low of $3.51 and a fifty-two week high of $7.84. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.63 and a quick ratio of 1.13. The firm has a market capitalization of $474.66 million, a price-to-earnings ratio of 25.63 and a beta of 0.68. The company’s 50 day simple moving average is $4.80 and its 200 day simple moving average is $6.13.

Arko Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Monday, March 10th. Arko’s dividend 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.