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

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant 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 trading volume, of 21,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 1.7% of the company’s stock are short sold.

Insider Buying and Selling at FAT Brands

In other news, Director Mark Elenowitz purchased 6,200 shares of FAT Brands stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average price of $11.00 per share, with a total value of $68,200.00. Following the completion of the transaction, the director now directly owns 9,200 shares of the company’s stock, valued at approximately $101,200. The trade was a 206.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 7,544 shares of company stock worth $81,528. 11.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FAT Brands stock. Legacy Financial Advisors Inc. bought a new position in FAT Brands Inc. (NASDAQ:FAT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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. 6.90% of the stock is currently owned by institutional investors.

FAT Brands Stock Down 1.3 %

FAT traded down $0.07 during midday trading on Friday, hitting $5.29. 23,159 shares of the company traded hands, compared to its average volume of 24,238. The company’s 50-day moving average is $5.06 and its 200 day moving average is $5.31. FAT Brands has a 52 week low of $4.51 and a 52 week high of $9.48. The firm has a market capitalization of $83.79 million, a PE ratio of -0.57 and a beta of 1.80.

FAT Brands (NASDAQ:FAT) last announced its earnings results on Wednesday, October 30th. The company reported ($2.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.86). The business had revenue of $143.37 million for the quarter, compared to analyst estimates of $159.85 million. During the same period in the previous year, the company posted ($1.59) EPS. On average, sell-side analysts predict that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Announces Dividend

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