Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Declines By 18.2%

Ark Restaurants Corp. (NASDAQ:ARKR) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 15,700 shares, a drop of 18.2% from the May 31st total of 19,200 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 2,400 shares, the short-interest ratio is presently 6.5 days.

Ark Restaurants Stock Performance

Shares of NASDAQ:ARKR opened at $13.11 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.65 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average price is $14.42 and its two-hundred day moving average price is $14.29. Ark Restaurants has a one year low of $10.27 and a one year high of $18.75.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings data on Monday, May 13th. The restaurant operator reported ($0.40) earnings per share (EPS) for the quarter. The company had revenue of $42.26 million during the quarter. Ark Restaurants had a negative net margin of 3.91% and a positive return on equity of 1.19%.

Ark Restaurants Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were paid a dividend of $0.188 per share. The ex-dividend date was Friday, May 31st. This represents a $0.75 annualized dividend and a dividend yield of 5.74%. Ark Restaurants’s dividend payout ratio is currently -37.13%.

Insider Activity at Ark Restaurants

In related news, major shareholder Thomas A. Satterfield, Jr. bought 6,100 shares of the stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $13.99 per share, for a total transaction of $85,339.00. Following the completion of the transaction, 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 can be accessed through this link. Company insiders own 37.17% of the company’s stock.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC raised its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARKR shares. TheStreet raised Ark Restaurants from a “d+” rating to a “c” rating in a research note on Thursday, March 14th. StockNews.com began coverage on shares of Ark Restaurants in a report on Friday. They issued a “buy” rating on the stock.

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.