FAT Brands Inc. (NASDAQ:FAT) Short Interest Down 15.7% in August

FAT Brands Inc. (NASDAQ:FAT) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 48,300 shares, a decrease of 15.7% from the August 15th total of 57,300 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,900 shares, the short-interest ratio is presently 2.0 days.

Insider Transactions at FAT Brands

In other news, Director Mark Elenowitz acquired 6,200 shares of FAT Brands stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $11.00 per share, with a total value of $68,200.00. Following the acquisition, the director now owns 9,200 shares in the company, valued at $101,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders purchased 9,564 shares of company stock valued at $97,897. Corporate insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Simplicity Wealth LLC bought a new position in FAT Brands in the 1st quarter worth about $83,000. Legacy Financial Advisors Inc. purchased a new stake in FAT Brands during the 2nd quarter valued at $103,000. Finally, Divisadero Street Capital Management LP grew its holdings in FAT Brands by 22.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 175,428 shares of the company’s stock worth $900,000 after acquiring an additional 32,048 shares during the last quarter. 6.90% of the stock is currently owned by institutional investors and hedge funds.

FAT Brands Stock Up 0.4 %

Shares of FAT traded up $0.02 during trading hours on Monday, reaching $4.82. The stock had a trading volume of 4,208 shares, compared to its average volume of 25,274. The firm has a 50-day moving average of $5.18 and a 200 day moving average of $6.07. FAT Brands has a 52 week low of $4.51 and a 52 week high of $9.48. The company has a market cap of $75.87 million, a P/E ratio of -0.78 and a beta of 1.83.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.00) by ($0.43). The company had revenue of $152.04 million during the quarter, compared to the consensus estimate of $156.35 million. During the same quarter in the prior year, the firm earned ($0.53) EPS. As a group, equities analysts expect that FAT Brands will post -8.08 earnings per share for the current year.

FAT Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from FAT Brands’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 11.62%. FAT Brands’s dividend payout ratio is -9.08%.

FAT Brands Company Profile

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.