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

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

Separately, TheStreet upgraded Ark Restaurants from a d+ rating to a c rating in a research note on Thursday, March 14th.

Ark Restaurants Trading Down 3.7 %

NASDAQ:ARKR opened at $15.65 on Friday. The business’s 50-day moving average is $14.00 and its two-hundred day moving average is $14.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.74 and a quick ratio of 0.65. Ark Restaurants has a 12 month low of $10.27 and a 12 month high of $18.75. The firm has a market capitalization of $56.34 million, a PE ratio of -7.75 and a beta of 0.97.

Ark Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a $0.188 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.75 annualized dividend and a dividend yield of 4.81%. Ark Restaurants’s dividend payout ratio is currently -37.13%.

Insider Buying and Selling at Ark Restaurants

In related news, major shareholder Thomas A. Satterfield, Jr. purchased 6,100 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $13.99 per share, with a total value of $85,339.00. Following the completion of the purchase, the insider now owns 52,600 shares of the company’s stock, valued at approximately $735,874. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.17% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC raised its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,544 shares of the restaurant operator’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.49% of Ark Restaurants worth $246,000 as of its most recent filing with the Securities and Exchange Commission. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

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.