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 Tuesday morning. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 5.9 %

Ark Restaurants stock opened at $12.77 on Tuesday. The stock has a market cap of $45.97 million, a P/E ratio of -6.32 and a beta of 1.00. Ark Restaurants has a fifty-two week low of $10.27 and a fifty-two week high of $18.37. The firm’s fifty day moving average price is $13.99 and its 200-day moving average price is $14.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.74.

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

Ark Restaurants Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were given a dividend of $0.188 per share. The ex-dividend date was Friday, May 31st. This represents a $0.75 annualized dividend and a yield of 5.89%. Ark Restaurants’s payout ratio is -37.13%.

Insider Transactions at Ark Restaurants

In other news, major shareholder Thomas A. Satterfield, Jr. bought 6,100 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $13.99 per share, for a total transaction of $85,339.00. Following the completion of the acquisition, the insider now owns 52,600 shares in the company, valued at approximately $735,874. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC lifted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,544 shares of the restaurant operator’s stock after acquiring 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 filing with the Securities & Exchange Commission. 31.95% of the stock is owned by institutional investors.

Ark Restaurants Company Profile

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.