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

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note released on Monday morning. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

Shares of ARKR stock opened at $11.79 on Monday. Ark Restaurants has a fifty-two week low of $10.27 and a fifty-two week high of $16.25. The company has a 50 day moving average price of $12.62 and a 200 day moving average price of $13.60. The stock has a market capitalization of $42.49 million, a P/E ratio of -5.84 and a beta of 1.01.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 EPS for the quarter. The business 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 Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC raised its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the quarter. Ark Restaurants makes up about 2.3% of CM Management LLC’s holdings, making the stock its 13th biggest holding. 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 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.