Ark Restaurants (NASDAQ:ARKR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Friday morning. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 4.4 %

NASDAQ:ARKR opened at $13.48 on Friday. The firm has a market capitalization of $48.53 million, a price-to-earnings ratio of -4.96 and a beta of 0.98. Ark Restaurants has a twelve month low of $9.75 and a twelve month high of $16.25. The stock’s 50 day moving average price is $11.28 and its two-hundred day moving average price is $12.48.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC increased its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 200,000 shares of the restaurant operator’s stock after purchasing an additional 15,393 shares during the quarter. Ark Restaurants makes up 2.3% of CM Management LLC’s holdings, making the stock its 13th largest 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 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.