Flanigan’s Enterprises (NYSEAMERICAN:BDL) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Flanigan’s Enterprises, Inc. (NYSEAMERICAN:BDL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.87 and traded as high as $44.61. Flanigan’s Enterprises shares last traded at $44.60, with a volume of 65,238 shares trading hands.

Flanigan’s Enterprises Trading Up 3.1%

The stock has a market cap of $82.21 million, a PE ratio of 13.77 and a beta of 0.28. 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 stock has a fifty day moving average price of $40.37 and a 200 day moving average price of $35.03.

Flanigan’s Enterprises Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, June 26th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.60 per share. 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 yield of 170.0%. Flanigan’s Enterprises’s payout ratio is presently 33.90%.

Insiders Place Their Bets

In other news, CEO James Flanigan II acquired 1,899 shares of the business’s stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $31.76 per share, for a total transaction of $60,312.24. Following the completion of the transaction, the chief executive officer directly owned 983,971 shares of the company’s stock, valued at approximately $31,250,918.96. The trade was a 0.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 2,000 shares of company stock worth $63,453 in the last quarter. Insiders own 62.30% of the company’s stock.

Hedge Funds Weigh In On Flanigan’s Enterprises

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Flanigan’s Enterprises by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 63,747 shares of the company’s stock valued at $2,032,000 after purchasing an additional 516 shares during the last quarter. Geode Capital Management LLC bought a new stake in Flanigan’s Enterprises in the second quarter worth about $249,000. Finally, Empowered Funds LLC raised its holdings in shares of Flanigan’s Enterprises by 3.1% in 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 period. 11.03% of the stock is owned by hedge funds and other institutional investors.

About Flanigan’s Enterprises

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.