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

StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report sent to investors on Wednesday. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 3.9 %

Ark Restaurants stock opened at $12.26 on Wednesday. Ark Restaurants has a fifty-two week low of $10.27 and a fifty-two week high of $18.28. The company’s 50 day simple moving average is $13.72 and its 200 day simple moving average is $14.06. The firm has a market capitalization of $44.14 million, a price-to-earnings ratio of -6.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.74 and a quick ratio of 0.65.

Ark Restaurants (NASDAQ:ARKR) last announced its 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 company had revenue of $42.26 million for the quarter.

Insider Transactions at Ark Restaurants

In other Ark Restaurants news, major shareholder Thomas A. Satterfield, Jr. purchased 6,100 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $13.99 per share, for a total transaction of $85,339.00. Following the purchase, the insider now owns 52,600 shares of the company’s stock, valued at $735,874. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 37.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC increased its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,544 shares of the restaurant operator’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.49% of Ark Restaurants worth $246,000 as of its most recent filing with the SEC. Institutional investors own 31.95% of the company’s stock.

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.