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

StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report published on Friday morning. The firm issued a buy rating on the restaurant operator’s stock.

Separately, TheStreet raised shares of Ark Restaurants from a c rating to a b- rating in a report on Thursday, August 24th.

Ark Restaurants Stock Up 2.0 %

Shares of ARKR stock opened at $15.53 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. Ark Restaurants has a twelve month low of $14.84 and a twelve month high of $19.96. The stock has a 50 day moving average of $15.39 and a 200 day moving average of $16.94. The stock has a market cap of $55.91 million, a P/E ratio of 10.86 and a beta of 1.09.

Ark Restaurants Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Thursday, November 30th will be issued a $0.188 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.75 dividend on an annualized basis and a yield of 4.84%. Ark Restaurants’s payout ratio is 52.45%.

Institutional Investors Weigh In On Ark Restaurants

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in shares of Ark Restaurants by 2.4% in the first quarter. Renaissance Technologies LLC now owns 30,211 shares of the restaurant operator’s stock valued at $558,000 after purchasing an additional 700 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ark Restaurants by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 141,985 shares of the restaurant operator’s stock worth $2,456,000 after buying an additional 1,235 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Ark Restaurants by 1,694.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,651 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 1,559 shares in the last quarter. First Manhattan Co. boosted its position in shares of Ark Restaurants by 7.8% during the 4th quarter. First Manhattan Co. now owns 39,957 shares of the restaurant operator’s stock worth $662,000 after acquiring an additional 2,907 shares in the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Ark Restaurants in the 1st quarter valued at about $141,000. Institutional investors and hedge funds own 17.30% 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 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.