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

Equities researchers at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a note issued to investors on Monday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 5.1 %

ARKR stock opened at $10.27 on Monday. The firm has a market cap of $37.01 million, a price-to-earnings ratio of -17.71 and a beta of 0.95. The company’s fifty day simple moving average is $12.60 and its 200 day simple moving average is $11.96. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last announced its quarterly earnings data on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a positive return on equity of 4.22% and a negative net margin of 1.16%.

Institutional Trading of Ark Restaurants

Large investors have recently modified their holdings of the stock. Northern Trust Corp bought a new position in Ark Restaurants during the fourth quarter worth $147,000. Aristides Capital LLC raised its holdings in shares of Ark Restaurants by 9.2% during the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after purchasing an additional 1,733 shares during the period. Empowered Funds LLC boosted its position in shares of Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 967 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ark Restaurants by 50.4% during the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after purchasing an additional 7,017 shares in the last quarter. Institutional investors and hedge funds own 31.95% of the company’s stock.

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.