Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Drops By 13.3%

Ark Restaurants Corp. (NASDAQ:ARKRGet Rating) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 13,700 shares, a decrease of 13.3% from the August 15th total of 15,800 shares. Based on an average daily trading volume, of 11,800 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.9% of the shares of the stock are short sold.

Insider Activity

In other news, major shareholder Thomas A. Satterfield, Jr. acquired 5,500 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was acquired at an average price of $16.73 per share, for a total transaction of $92,015.00. Following the completion of the acquisition, the insider now directly owns 37,000 shares in the company, valued at approximately $619,010. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Thomas A. Satterfield, Jr. acquired 8,707 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was acquired at an average price of $18.21 per share, for a total transaction of $158,554.47. Following the completion of the acquisition, the insider now directly owns 84,183 shares in the company, valued at approximately $1,532,972.43. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Thomas A. Satterfield, Jr. bought 5,500 shares of Ark Restaurants stock in a transaction dated Friday, June 24th. The shares were bought at an average cost of $16.73 per share, with a total value of $92,015.00. Following the completion of the acquisition, the insider now owns 37,000 shares of the company’s stock, valued at $619,010. The disclosure for this purchase can be found here. Insiders bought a total of 27,907 shares of company stock worth $497,854 over the last 90 days. 40.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ark Restaurants

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Ark Restaurants by 11.5% during the first quarter. Vanguard Group Inc. now owns 93,227 shares of the restaurant operator’s stock valued at $1,722,000 after buying an additional 9,638 shares during the period. CM Management LLC raised its position in Ark Restaurants by 5.4% during the second quarter. CM Management LLC now owns 137,000 shares of the restaurant operator’s stock valued at $2,466,000 after buying an additional 7,000 shares during the period. Dimensional Fund Advisors LP raised its position in Ark Restaurants by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 129,110 shares of the restaurant operator’s stock valued at $2,385,000 after buying an additional 6,413 shares during the period. Renaissance Technologies LLC raised its position in Ark Restaurants by 11.3% during the second quarter. Renaissance Technologies LLC now owns 33,611 shares of the restaurant operator’s stock valued at $605,000 after buying an additional 3,400 shares during the period. Finally, James Investment Research Inc. raised its position in Ark Restaurants by 107.8% during the second quarter. James Investment Research Inc. now owns 1,928 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 1,000 shares during the period. 26.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Ark Restaurants in a report on Sunday. They set a “hold” rating for the company.

Ark Restaurants Trading Down 2.0 %

Shares of NASDAQ ARKR opened at $19.92 on Friday. Ark Restaurants has a 12 month low of $15.31 and a 12 month high of $22.45. The company has a market cap of $71.71 million, a price-to-earnings ratio of 4.69 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $20.05 and a 200-day simple moving average of $18.42.

Ark Restaurants Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, August 30th. Ark Restaurants’s dividend payout ratio is 11.76%.

About Ark Restaurants

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Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. As of December 20, 2021, it owned and operated 17 restaurants and bars, including four restaurants located in New York City; one in Washington, DC; five in Las Vegas, Nevada; one in Atlantic City, New Jersey; four on the east coast of Florida; and two on the gulf coast of Alabama, as well as had 17 fast food concepts and catering operations.

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