Ark Restaurants (ARKR) Downgraded by TheStreet to C

TheStreet cut shares of Ark Restaurants (NASDAQ:ARKR) from a b- rating to a c rating in a research report sent to investors on Wednesday.

Shares of ARKR opened at $18.97 on Wednesday. Ark Restaurants has a 12-month low of $17.75 and a 12-month high of $27.15. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $65.15 million, a P/E ratio of 19.53 and a beta of 0.50.

Ark Restaurants (NASDAQ:ARKR) last issued its earnings results on Wednesday, December 19th. The restaurant operator reported $0.28 earnings per share (EPS) for the quarter. Ark Restaurants had a return on equity of 8.01% and a net margin of 2.91%. The company had revenue of $40.56 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Monday, December 17th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Ark Restaurants by 6.5% in the 2nd quarter. Renaissance Technologies LLC now owns 87,200 shares of the restaurant operator’s stock worth $2,175,000 after purchasing an additional 5,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ark Restaurants by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 124,456 shares of the restaurant operator’s stock worth $2,864,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of Ark Restaurants by 9.2% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 268,307 shares of the restaurant operator’s stock worth $6,246,000 after purchasing an additional 22,534 shares in the last quarter. Institutional investors own 23.82% of the company’s stock.

About Ark Restaurants

Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. As of September 29, 2018, it owned and/or operated 20 restaurants and bars, including 5 facilities located in New York City; 2 in Washington, DC; 5 in Las Vegas, Nevada; 3 in Atlantic City, New Jersey; 1 in the Faneuil Hall Marketplace in Boston, Massachusetts; 2 on the east coast of Florida; and 2 on the gulf coast of Alabama, as well as had 19 fast food concepts and catering operations.

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