Short Interest in FAT Brands Inc. (NASDAQ:FAT) Rises By 51.1%

FAT Brands Inc. (NASDAQ:FAT) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 79,000 shares, a growth of 51.1% from the October 15th total of 52,300 shares. Based on an average daily volume of 21,000 shares, the short-interest ratio is currently 3.8 days. Approximately 1.7% of the company’s shares are short sold.

Insider Activity

In other news, Director Mark Elenowitz acquired 6,200 shares of FAT Brands stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average cost of $11.00 per share, with a total value of $68,200.00. Following the transaction, the director now directly owns 9,200 shares of the company’s stock, valued at $101,200. This trade represents a 206.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders purchased 7,544 shares of company stock valued at $81,528 in the last ninety days. Insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. Legacy Financial Advisors Inc. purchased a new position in shares of FAT Brands Inc. (NASDAQ:FAT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $103,000. Legacy Financial Advisors Inc. owned approximately 0.13% of FAT Brands at the end of the most recent quarter. Hedge funds and other institutional investors own 6.90% of the company’s stock.

FAT Brands Price Performance

Shares of FAT traded down $0.07 during mid-day trading on Friday, reaching $5.29. 23,159 shares of the company’s stock traded hands, compared to its average volume of 24,238. FAT Brands has a 12 month low of $4.51 and a 12 month high of $9.48. The stock has a market cap of $83.79 million, a P/E ratio of -0.57 and a beta of 1.80. The stock’s 50-day moving average is $5.06 and its two-hundred day moving average is $5.31.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($2.74) EPS for the quarter, missing the consensus estimate of ($1.88) by ($0.86). The business had revenue of $143.37 million during the quarter, compared to the consensus estimate of $159.85 million. During the same quarter in the previous year, the business earned ($1.59) earnings per share. Research analysts predict that FAT Brands will post -10.23 earnings per share for the current year.

FAT Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 10.59%. The ex-dividend date is Friday, November 15th. FAT Brands’s dividend payout ratio is presently -6.07%.

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.