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

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

Ark Restaurants Stock Performance

Shares of NASDAQ ARKR opened at $11.71 on Tuesday. The stock has a market cap of $42.20 million, a P/E ratio of -5.80 and a beta of 1.01. The firm has a 50 day moving average price of $12.49 and a 200 day moving average price of $13.54. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $16.25.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share for the quarter. The company 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 Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC boosted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the quarter. Ark Restaurants accounts for approximately 2.3% of CM Management LLC’s investment portfolio, making the stock its 13th biggest holding. CM Management LLC owned approximately 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.