Loeb cuts Ark Restaurants stake to 7.25%

New York, Oct. 29 - Ark Restaurants Corp. investors led by Loeb Partners Corp. sold 31,984 shares from Sept. 4 to Oct. 27, cutting their stake to 260,722 shares or 7.25%.

The shares were priced from $13.0349 to $22.701, according to a schedule 13D filing with the Securities and Exchange Commission.

As before, Loeb stated that it intends to review its investment in Ark Restaurants "on a continuing basis" and may engage in discussions with management or the board of directors about the company's business and future plans, the filing stated.

On July 28 Loeb reported holding 297,923 shares, or 8.28%, of the New York-based restaurant operator's outstanding stock.

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