FAT Brands Inc. (NASDAQ:FAT) Short Interest Update

FAT Brands Inc. (NASDAQ:FAT) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 48,300 shares, a decline of 15.7% from the August 15th total of 57,300 shares. Based on an average daily volume of 23,900 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.0% of the shares of the stock are sold short.

Insider Transactions at FAT Brands

In other FAT Brands news, Director Mark Elenowitz purchased 6,200 shares of FAT Brands stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $68,200.00. Following the completion of the acquisition, the director now owns 9,200 shares in the company, valued at approximately $101,200. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have bought 9,564 shares of company stock valued at $97,897. 11.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FAT Brands

Several hedge funds have recently made changes to their positions in the company. Simplicity Wealth LLC acquired a new position in shares of FAT Brands during the 1st quarter worth about $83,000. Legacy Financial Advisors Inc. purchased a new stake in FAT Brands in the second quarter valued at $103,000. Finally, Divisadero Street Capital Management LP lifted its stake in shares of FAT Brands by 22.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 175,428 shares of the company’s stock valued at $900,000 after purchasing an additional 32,048 shares during the last quarter. 6.90% of the stock is owned by institutional investors and hedge funds.

FAT Brands Stock Up 0.4 %

FAT stock traded up $0.02 during trading on Monday, hitting $4.82. The company had a trading volume of 4,208 shares, compared to its average volume of 25,274. FAT Brands has a 52-week low of $4.51 and a 52-week high of $9.48. The company has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $6.07. The firm has a market capitalization of $75.87 million, a P/E ratio of -0.78 and a beta of 1.83.

FAT Brands (NASDAQ:FAT) last issued its earnings results on Wednesday, July 31st. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.00) by ($0.43). The firm had revenue of $152.04 million for the quarter, compared to analyst estimates of $156.35 million. During the same quarter in the previous year, the business posted ($0.53) earnings per share. Sell-side analysts forecast that FAT Brands will post -8.08 earnings per share for the current year.

FAT Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from FAT Brands’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 11.62%. FAT Brands’s dividend payout ratio (DPR) is currently -9.08%.

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.