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

Investment analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 1.1 %

Shares of ARKR stock opened at $12.76 on Wednesday. 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 fifty-two week low of $10.27 and a fifty-two week high of $18.28. The firm has a market capitalization of $45.98 million, a PE ratio of -6.32 and a beta of 1.00. The stock’s 50-day simple moving average is $13.82 and its 200-day simple moving average is $14.09.

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

Insider Transactions at Ark Restaurants

In other news, major shareholder Thomas A. Satterfield, Jr. bought 6,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $13.99 per share, for a total transaction of $85,339.00. Following the purchase, the insider now directly owns 52,600 shares in the company, valued at approximately $735,874. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 37.17% of the company’s stock.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC boosted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,544 shares of the restaurant operator’s stock after buying an additional 1,225 shares during the quarter. Empowered Funds LLC owned approximately 0.49% of Ark Restaurants worth $246,000 at the end of the most recent reporting period. 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.