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

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

Separately, TheStreet upgraded Ark Restaurants from a d+ rating to a c rating in a report on Thursday, March 14th.

Ark Restaurants Stock Up 0.9 %

ARKR opened at $13.50 on Friday. The firm has a market capitalization of $48.60 million, a P/E ratio of -6.62 and a beta of 1.00. Ark Restaurants has a one year low of $10.27 and a one year high of $18.75. The company has a fifty day moving average price of $14.39 and a 200-day moving average price of $14.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.74 and a quick ratio of 0.65.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings data on Monday, May 13th. The restaurant operator reported ($0.40) EPS for the quarter. The business 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were paid a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a yield of 5.57%. The ex-dividend date was Friday, May 31st. Ark Restaurants’s payout ratio is currently -37.13%.

Insider Transactions at Ark Restaurants

In related news, major shareholder Thomas A. Satterfield, Jr. bought 6,100 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $13.99 per share, with a total value of $85,339.00. Following the completion of the purchase, the insider now owns 52,600 shares in the company, valued at approximately $735,874. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 37.17% of the company’s stock.

Institutional Investors Weigh In On 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 the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,544 shares of the restaurant operator’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.49% of Ark Restaurants worth $246,000 as of its most recent SEC filing. Hedge funds and other 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.