Ark Restaurants Corp. (NASDAQ:ARKR) Sees Significant Decline in Short Interest

Ark Restaurants Corp. (NASDAQ:ARKR) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 15,700 shares, a drop of 18.2% from the May 31st total of 19,200 shares. Based on an average trading volume of 2,400 shares, the short-interest ratio is currently 6.5 days. Currently, 0.9% of the shares of the stock are short sold.

Ark Restaurants Trading Down 2.8 %

ARKR stock traded down $0.38 during mid-day trading on Friday, reaching $13.11. 8,483 shares of the stock traded hands, compared to its average volume of 2,257. Ark Restaurants has a one year low of $10.27 and a one year high of $18.75. The stock has a market capitalization of $47.25 million, a PE ratio of -6.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.74. The business has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $14.30.

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

Ark Restaurants Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were given a dividend of $0.188 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.75 annualized dividend and a dividend yield of 5.74%. Ark Restaurants’s dividend payout ratio (DPR) is -37.13%.

Insider Activity at Ark Restaurants

In other news, major shareholder Thomas A. Satterfield, Jr. acquired 6,100 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $13.99 per share, for a total transaction of $85,339.00. Following the completion of the transaction, the insider now directly owns 52,600 shares in the company, valued at approximately $735,874. The acquisition was disclosed in a filing with the SEC, which is available through this link. 37.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC raised its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC). 31.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Ark Restaurants in a research note on Friday. They set a “buy” rating on the stock. TheStreet upgraded Ark Restaurants from a “d+” rating to a “c” rating in a research report on Thursday, March 14th.

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.