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

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

Ark Restaurants Price Performance

NASDAQ ARKR opened at $11.29 on Friday. The company has a market capitalization of $40.69 million, a price-to-earnings ratio of -4.15 and a beta of 0.98. Ark Restaurants has a 12 month low of $9.75 and a 12 month high of $16.25. The company’s fifty day moving average price is $11.27 and its two-hundred day moving average price is $12.32.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC grew its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the quarter. Ark Restaurants makes up approximately 2.3% of CM Management LLC’s holdings, making the stock its 13th largest position. CM Management LLC owned 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.