StockNews.com Initiates Coverage on Ark Restaurants (NASDAQ:ARKR)

Investment analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Saturday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 4.4 %

Shares of NASDAQ:ARKR opened at $11.37 on Friday. The firm has a market cap of $40.93 million, a price-to-earnings ratio of -4.18 and a beta of 1.01. Ark Restaurants has a 12 month low of $10.27 and a 12 month high of $16.25. The company’s fifty day simple moving average is $12.02 and its 200 day simple moving average is $13.21.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $50.40 million for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC raised its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the period. Ark Restaurants accounts for about 2.3% of CM Management LLC’s portfolio, making the stock its 13th largest holding. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 as of its most recent SEC filing. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.