Short Interest in FAT Brands Inc. (NASDAQ:FAT) Rises By 11.2%

FAT Brands Inc. (NASDAQ:FAT) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 74,700 shares, a growth of 11.2% from the December 15th total of 67,200 shares. Based on an average daily trading volume, of 19,800 shares, the days-to-cover ratio is presently 3.8 days. Approximately 1.6% of the shares of the company are sold short.

Institutional Investors Weigh In On FAT Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in FAT Brands in the 4th quarter valued at about $85,000. Legacy Financial Advisors Inc. acquired a new position in shares of FAT Brands in the second quarter valued at approximately $103,000. Finally, Divisadero Street Capital Management LP lifted its stake in shares of FAT Brands by 22.4% during the second quarter. Divisadero Street Capital Management LP now owns 175,428 shares of the company’s stock valued at $900,000 after buying an additional 32,048 shares during the period. 6.90% of the stock is currently owned by hedge funds and other institutional investors.

FAT Brands Stock Up 2.2 %

NASDAQ:FAT traded up $0.12 during midday trading on Monday, reaching $5.49. The stock had a trading volume of 79,770 shares, compared to its average volume of 15,717. 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 $93.93 million, a P/E ratio of -0.60 and a beta of 1.80. The firm has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $5.20.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($2.74) earnings per share (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 analysts’ expectations of $159.85 million. During the same period last year, the firm earned ($1.59) EPS. On average, sell-side analysts anticipate that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 10.20%. The ex-dividend date of this dividend was Friday, November 15th. FAT Brands’s dividend payout ratio is currently -6.07%.

About FAT Brands

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.