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

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

Ark Restaurants Stock Up 1.4 %

Shares of NASDAQ:ARKR opened at $11.97 on Friday. The business has a 50 day moving average price of $12.02 and a 200 day moving average price of $13.28. Ark Restaurants has a twelve month low of $10.27 and a twelve month high of $16.25. The company has a market cap of $43.14 million, a price-to-earnings ratio of -5.93 and a beta of 1.01.

Ark Restaurants (NASDAQ:ARKR) last announced its earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%. The firm had revenue of $50.40 million during the quarter.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC grew its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to 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 quarter. Ark Restaurants accounts for about 2.3% of CM Management LLC’s holdings, making the stock its 13th largest position. CM Management LLC owned 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 hedge funds and other institutional investors.

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.