Ark Restaurants (NASDAQ:ARKR) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note published on Monday. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Up 2.4 %

Ark Restaurants stock opened at $11.80 on Monday. The company has a fifty day simple moving average of $12.71 and a 200-day simple moving average of $13.64. The firm has a market capitalization of $42.53 million, a price-to-earnings ratio of -5.84 and a beta of 1.01. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $16.25.

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

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC grew its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the quarter. Ark Restaurants comprises approximately 2.3% of CM Management LLC’s investment portfolio, making the stock its 13th biggest position. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. 31.95% of the stock is owned by hedge funds and other institutional investors.

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.