Ark Restaurants (NASDAQ:ARKR) Coverage Initiated by Analysts at StockNews.com

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

Ark Restaurants Stock Down 4.4 %

Ark Restaurants stock opened at $13.48 on Friday. Ark Restaurants has a twelve month low of $9.75 and a twelve month high of $16.25. The company has a 50 day moving average of $11.28 and a 200-day moving average of $12.48. The stock has a market capitalization of $48.53 million, a PE ratio of -4.96 and a beta of 0.98.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC increased its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the quarter. Ark Restaurants accounts for about 2.3% of CM Management LLC’s portfolio, making the stock its 13th biggest holding. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. 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.