Ark Restaurants (NASDAQ:ARKR) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Friday morning. The firm issued a buy rating on the restaurant operator’s stock.

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

Ark Restaurants Price Performance

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

Ark Restaurants Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings in Ark Restaurants by 2.4% during 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 position in shares of Ark Restaurants by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 141,985 shares of the restaurant operator’s stock valued at $2,456,000 after buying an additional 1,235 shares in the last quarter. Tower Research Capital LLC TRC grew its stake 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 valued at $29,000 after acquiring an additional 1,559 shares during the period. First Manhattan Co. increased its holdings in Ark Restaurants by 7.8% in 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 bought a new stake in Ark Restaurants during the 1st quarter worth approximately $141,000. 17.30% of the stock is currently owned by institutional investors.

About Ark Restaurants

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.