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

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

Ark Restaurants Stock Down 0.2 %

ARKR opened at $11.68 on Tuesday. The business’s fifty day simple moving average is $12.46 and its 200 day simple moving average is $13.52. The firm has a market cap of $42.11 million, a P/E ratio of -5.78 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 released 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%.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC lifted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the period. Ark Restaurants accounts for approximately 2.3% of CM Management LLC’s holdings, making the stock its 13th biggest position. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. 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.