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

FAT Brands Inc. (NASDAQ:FAT) saw 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 volume of 21,000 shares, the short-interest ratio is presently 3.8 days. Currently, 1.7% of the company’s stock are sold short.

Insider Buying and Selling at FAT Brands

In related 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 cost of $11.00 per share, for a total transaction of $68,200.00. Following the completion of the transaction, the director now owns 9,200 shares in the company, valued at $101,200. The trade was a 206.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased 7,544 shares of company stock worth $81,528 over the last quarter. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On FAT Brands

An institutional investor recently bought a new position in FAT Brands stock. Legacy Financial Advisors Inc. acquired a new position in shares of FAT Brands Inc. (NASDAQ:FAT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 reporting period. Hedge funds and other institutional investors own 6.90% of the company’s stock.

FAT Brands Stock Performance

Shares of FAT Brands stock traded down $0.07 during trading hours on Friday, hitting $5.29. The company’s stock had a trading volume of 23,159 shares, compared to its average volume of 24,238. The firm has a fifty day moving average of $5.06 and a 200-day moving average of $5.31. FAT Brands has a twelve month low of $4.51 and a twelve month high of $9.48. The stock has a market cap of $83.79 million, a price-to-earnings 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.86). The company had revenue of $143.37 million during the quarter, compared to analysts’ expectations of $159.85 million. During the same period in the previous year, the business posted ($1.59) earnings per share. On average, sell-side analysts expect that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Announces Dividend

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