Ark Restaurants (NASDAQ:ARKR) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

Shares of ARKR opened at $12.76 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.74 and a debt-to-equity ratio of 0.08. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $18.28. The company has a 50-day simple moving average of $13.82 and a 200-day simple moving average of $14.09. The company has a market capitalization of $45.98 million, a PE ratio of -6.32 and a beta of 1.00.

Ark Restaurants (NASDAQ:ARKR) last announced its quarterly earnings results on Monday, May 13th. The restaurant operator reported ($0.40) EPS for the quarter. Ark Restaurants had a positive return on equity of 1.19% and a negative net margin of 3.91%. The firm had revenue of $42.26 million for the quarter.

Insider Buying and Selling

In other Ark Restaurants news, major shareholder Thomas A. Satterfield, Jr. bought 6,100 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $13.99 per share, for a total transaction of $85,339.00. Following the completion of the transaction, the insider now owns 52,600 shares in the company, valued at approximately $735,874. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.17% of the company’s stock.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC increased its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the restaurant operator’s stock after purchasing an additional 15,393 shares during the quarter. Ark Restaurants makes up approximately 2.3% of CM Management LLC’s holdings, making the stock its 13th largest holding. CM Management LLC owned 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.95% of the company’s stock.

About Ark Restaurants

Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. It operates restaurants in New York City; Washington, DC; Las Vegas, Nevada; Atlantic City, New Jersey; Florida; and Alabama, as well as fast food concepts and catering operations. The company was incorporated in 1983 and is based in New York, New York.