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

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 5.1 %

Ark Restaurants stock opened at $10.27 on Monday. The firm’s fifty day moving average price is $12.60 and its two-hundred day moving average price is $11.96. The firm has a market capitalization of $37.01 million, a price-to-earnings ratio of -17.71 and a beta of 0.95. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results 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 Investors Weigh In On Ark Restaurants

Several institutional investors have recently bought and sold shares of ARKR. Geode Capital Management LLC lifted its stake in Ark Restaurants by 50.4% during the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after acquiring an additional 7,017 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Ark Restaurants by 4.9% in the fourth quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 967 shares during the last quarter. Aristides Capital LLC lifted its position 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 in the last quarter. Finally, Northern Trust Corp bought a new position in shares of Ark Restaurants during the fourth quarter valued at about $147,000. 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.