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

Equities research analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Tuesday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

ARKR stock opened at $10.25 on Tuesday. The stock has a fifty day moving average of $11.41 and a 200-day moving average of $12.88. Ark Restaurants has a fifty-two week low of $9.80 and a fifty-two week high of $16.25. The company has a market capitalization of $36.94 million, a price-to-earnings ratio of -3.77 and a beta of 1.02.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC boosted its holdings 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 institutional investor owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the period. Ark Restaurants makes up 2.3% of CM Management LLC’s investment portfolio, making the stock its 13th biggest holding. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 31.95% of the company’s 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.