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

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKRGet Rating) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the restaurant operator’s stock.

ARKR stock opened at $16.84 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.98 and a current ratio of 1.12. Ark Restaurants has a 52 week low of $14.39 and a 52 week high of $20.50. The firm’s fifty day moving average is $17.70 and its 200 day moving average is $17.38. The firm has a market cap of $59.82 million, a P/E ratio of 4.78 and a beta of 1.15.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 13th. Investors of record on Tuesday, May 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, May 27th.

Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in Ark Restaurants by 25.4% in the 2nd quarter. Wells Fargo & Company MN now owns 6,066 shares of the restaurant operator’s stock worth $120,000 after acquiring an additional 1,229 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Ark Restaurants by 2.4% in the 1st quarter. Renaissance Technologies LLC now owns 30,211 shares of the restaurant operator’s stock worth $558,000 after purchasing an additional 700 shares during the period. Vanguard Group Inc. lifted its position in shares of Ark Restaurants by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 93,227 shares of the restaurant operator’s stock worth $1,722,000 after purchasing an additional 9,638 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ark Restaurants by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 129,110 shares of the restaurant operator’s stock worth $2,385,000 after purchasing an additional 6,413 shares during the period. 14.28% of the stock is currently owned by institutional investors and hedge funds.

About Ark Restaurants (Get Rating)

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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