Ark Restaurants (NASDAQ:ARKR) Now Covered by StockNews.com

StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report published on Tuesday morning. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

ARKR opened at $11.68 on Tuesday. The company’s 50 day simple moving average is $12.46 and its two-hundred day simple moving average is $13.52. The firm has a market capitalization of $42.11 million, a price-to-earnings ratio of -5.78 and a beta of 1.01. Ark Restaurants has a 1-year low of $10.27 and a 1-year high of $16.25.

Ark Restaurants (NASDAQ:ARKR) last posted its 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 for the quarter. Ark Restaurants had a negative net margin of 5.31% and a positive return on equity of 0.14%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC raised its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the period. Ark Restaurants makes up approximately 2.3% of CM Management LLC’s portfolio, making the stock its 13th largest position. CM Management LLC owned 5.55% of Ark Restaurants worth $2,622,000 as of its most recent SEC filing. 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.