Insider Selling: Ark Restaurants (NASDAQ:ARKR) CEO Sells $807,523.57 in Stock

Ark Restaurants Corp. (NASDAQ:ARKR) CEO Michael Lawrence Weinstein sold 176,701 shares of Ark Restaurants stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $4.57, for a total transaction of $807,523.57. Following the completion of the transaction, the chief executive officer directly owned 856,111 shares in the company, valued at $3,912,427.27. This represents a 17.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ark Restaurants Trading Down 0.2%

Shares of NASDAQ ARKR traded down $0.01 during mid-day trading on Monday, hitting $4.50. 520 shares of the company traded hands, compared to its average volume of 5,251. The business has a 50 day moving average of $5.33 and a two-hundred day moving average of $6.08. Ark Restaurants Corp. has a 1 year low of $4.46 and a 1 year high of $9.50. The stock has a market capitalization of $16.23 million, a price-to-earnings ratio of -5.11 and a beta of 0.35. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.22.

Ark Restaurants (NASDAQ:ARKR) last posted its earnings results on Monday, August 10th. The restaurant operator reported ($0.10) earnings per share for the quarter. The company had revenue of $40.88 million during the quarter. Ark Restaurants had a negative return on equity of 10.61% and a negative net margin of 2.04%.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently bought a new position in Ark Restaurants stock. Susquehanna International Group LLP acquired a new stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,745 shares of the restaurant operator’s stock, valued at approximately $81,000. Susquehanna International Group LLP owned approximately 0.38% of Ark Restaurants at the end of the most recent reporting period. Institutional investors and hedge funds own 31.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ark Restaurants in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About Ark Restaurants

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.