Flanigan’s Enterprises, Inc. (NYSEAMERICAN:BDL) Sees Large Growth in Short Interest

Flanigan’s Enterprises, Inc. (NYSEAMERICAN:BDL) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 6,501 shares, an increase of 195.8% from the May 31st total of 2,198 shares. Based on an average trading volume of 3,728 shares, the short-interest ratio is currently 1.7 days. Approximately 0.9% of the company’s shares are short sold.

Flanigan’s Enterprises Trading Up 6.7%

Shares of NYSEAMERICAN BDL traded up $2.97 during trading on Monday, reaching $46.97. The stock had a trading volume of 35,002 shares, compared to its average volume of 12,597. The business’s 50-day moving average price is $34.68 and its 200-day moving average price is $32.81. Flanigan’s Enterprises has a fifty-two week low of $26.33 and a fifty-two week high of $47.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.84. The company has a market cap of $87.36 million, a P/E ratio of 14.63 and a beta of 0.35.

Flanigan’s Enterprises Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, June 26th. Stockholders of record on Wednesday, June 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from Flanigan’s Enterprises’s previous annual dividend of $0.55. This represents a dividend yield of 170.0%. Flanigan’s Enterprises’s payout ratio is 33.90%.

Insider Activity

In related news, CEO James Flanigan II acquired 1,899 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $31.76 per share, for a total transaction of $60,312.24. Following the acquisition, the chief executive officer owned 983,971 shares in the company, valued at $31,250,918.96. The trade was a 0.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have purchased 2,000 shares of company stock valued at $63,453. 62.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flanigan’s Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Flanigan’s Enterprises by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 63,747 shares of the company’s stock worth $2,032,000 after acquiring an additional 516 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Flanigan’s Enterprises by 3.1% during the first quarter. Empowered Funds LLC now owns 14,725 shares of the company’s stock worth $364,000 after buying an additional 445 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Flanigan’s Enterprises in the 2nd quarter valued at approximately $249,000. Hedge funds and other institutional investors own 11.03% of the company’s stock.

Flanigan’s Enterprises Company Profile

Flanigan’s Enterprises, Inc operates as a regional distributor of beer, wine and distilled spirits, serving a range of retail and on-premise accounts throughout Florida. The company manages a network of wholesale distribution centers and provides a portfolio of both domestic and imported beverage brands. Through its Beverage Distribution & Logistics segment, Flanigan’s delivers products to grocery stores, convenience markets, restaurants, bars and clubs, leveraging its industry relationships to secure a diverse assortment of products for its customers.

To support its distribution operations, Flanigan’s Enterprises maintains warehousing, transportation and inventory management capabilities.