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

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

Ark Restaurants Price Performance

NASDAQ:ARKR opened at $13.54 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.74 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $14.36 and its two-hundred day moving average price is $14.20. The firm has a market capitalization of $48.74 million, a price-to-earnings ratio of -6.58 and a beta of 1.00. Ark Restaurants has a 12-month low of $10.27 and a 12-month high of $18.50.

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

Ark Restaurants Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Friday, May 31st. Ark Restaurants’s dividend payout ratio is presently -37.13%.

Insider Activity

In related news, major shareholder Thomas A. Satterfield, Jr. bought 6,100 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $13.99 per share, with a total value of $85,339.00. Following the transaction, the insider now directly owns 52,600 shares in the company, valued at $735,874. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.17% of the stock is owned by corporate insiders.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC raised its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund 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 SEC filing. Institutional investors own 31.95% of the company’s stock.

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.