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

Equities researchers at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Thursday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

NASDAQ ARKR opened at $11.85 on Thursday. The company has a market cap of $42.71 million, a price-to-earnings ratio of -5.87 and a beta of 1.01. The stock’s fifty day moving average price is $12.17 and its 200 day moving average price is $13.39. Ark Restaurants has a 1 year low of $10.27 and a 1 year high of $16.25.

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

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC boosted its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the quarter. Ark Restaurants accounts for 2.3% of CM Management LLC’s holdings, making the stock its 13th largest position. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission. 31.95% of the stock is currently owned by institutional investors.

Ark Restaurants Company Profile

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.