Ark Restaurants Corp. (NASDAQ:ARKR) Short Interest Down 18.2% in June

Ark Restaurants Corp. (NASDAQ:ARKR) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 15,700 shares, a decrease of 18.2% from the May 31st total of 19,200 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,400 shares, the short-interest ratio is presently 6.5 days.

Ark Restaurants Stock Down 2.8 %

Shares of NASDAQ:ARKR opened at $13.11 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.74. Ark Restaurants has a 1-year low of $10.27 and a 1-year high of $18.75. The company has a 50 day moving average price of $14.42 and a 200 day moving average price of $14.29.

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

Ark Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were paid a $0.188 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.75 dividend on an annualized basis and a yield of 5.74%. Ark Restaurants’s dividend payout ratio is currently -37.13%.

Insider Activity at Ark Restaurants

In related news, major shareholder Thomas A. Satterfield, Jr. purchased 6,100 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $13.99 per share, for a total transaction of $85,339.00. Following the transaction, the insider now owns 52,600 shares of the company’s stock, valued at $735,874. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.17% of the stock is currently owned by insiders.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC increased its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 as of its most recent SEC filing. 31.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARKR has been the subject of several research analyst reports. TheStreet upgraded Ark Restaurants from a “d+” rating to a “c” rating in a report on Thursday, March 14th. StockNews.com started coverage on shares of Ark Restaurants in a report on Friday. They issued a “buy” rating for the company.

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.