Key Points
- CEO Michael Lawrence Weinstein sold 176,701 Ark Restaurants shares at an average price of $4.57, receiving approximately $807,524. The sale reduced his ownership by 17.11%, leaving him with 856,111 shares.
- Ark Restaurants reported a quarterly loss of $0.10 per share on $40.88 million in revenue, alongside a negative net margin of 2.04% and negative return on equity of 10.61%.
- The stock opened at $4.47, near its 52-week low of $4.46, while the company carries a consensus analyst rating of “Sell.” Institutional investors and hedge funds own about 31.95% of the company.
Ark Restaurants Corp. (NASDAQ:ARKR - Get Free Report) CEO Michael Lawrence Weinstein sold 176,701 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $4.57, for a total value of $807,523.57. Following the sale, the chief executive officer owned 856,111 shares in the company, valued at approximately $3,912,427.27. This trade represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Ark Restaurants Price Performance
Shares of ARKR stock opened at $4.47 on Tuesday. Ark Restaurants Corp. has a 52 week low of $4.46 and a 52 week high of $9.50. The stock's fifty day moving average is $5.30 and its 200-day moving average is $6.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market capitalization of $16.14 million, a PE ratio of -5.08 and a beta of 0.35.
Ark Restaurants (NASDAQ:ARKR - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The restaurant operator reported ($0.10) earnings per share for the quarter. Ark Restaurants had a negative net margin of 2.04% and a negative return on equity of 10.61%. The company had revenue of $40.88 million during the quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Ark Restaurants in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Ark Restaurants currently has a consensus rating of "Sell".
Get Our Latest Research Report on Ark Restaurants
Hedge Funds Weigh In On Ark Restaurants
A hedge fund recently bought a new stake in Ark Restaurants stock. Empowered Funds LLC bought a new position in Ark Restaurants Corp. (NASDAQ:ARKR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,300 shares of the restaurant operator's stock, valued at approximately $137,000. Empowered Funds LLC owned 0.65% of Ark Restaurants at the end of the most recent quarter. Institutional investors and hedge funds own 31.95% of the company's stock.
Ark Restaurants Company Profile
(
Get Free Report)
Ark Restaurants Corp. is a restaurant company that owns, operates and develops a portfolio of full-service dining establishments in the United States. Its restaurants span a range of concepts, including casual dining, upscale dining, steakhouses, seafood restaurants, bars and entertainment-oriented venues.
The company's operations are concentrated in major hospitality and tourism markets, including New York City, Las Vegas and Florida. Its properties generally serve lunch, dinner and beverages, with some locations also offering private dining, catering, banquets and other special-event services.
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