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

FAT Brands Inc. (NASDAQ:FAT) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 35,400 shares, a drop of 9.2% from the July 15th total of 39,000 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 34,400 shares, the short-interest ratio is presently 1.0 days.

FAT Brands Stock Up 0.2 %

NASDAQ FAT traded up $0.01 on Tuesday, reaching $5.23. The company had a trading volume of 11,074 shares, compared to its average volume of 26,179. The stock has a market capitalization of $82.28 million, a P/E ratio of -0.85 and a beta of 1.82. The company’s fifty day moving average is $5.19 and its 200 day moving average is $6.58. FAT Brands has a 52-week low of $4.51 and a 52-week high of $9.48.

FAT Brands (NASDAQ:FAT) last announced its earnings results on Wednesday, July 31st. The company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.00) by ($0.43). The firm had revenue of $152.04 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same period in the previous year, the company posted ($0.53) earnings per share. On average, research analysts expect that FAT Brands will post -8.08 EPS for the current year.

FAT Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.56 annualized dividend and a yield of 10.71%. This is a positive change from FAT Brands’s previous quarterly dividend of $0.13. FAT Brands’s dividend payout ratio (DPR) is -9.08%.

Institutional Investors Weigh In On FAT Brands

Several large investors have recently added to or reduced their stakes in the company. Simplicity Wealth LLC bought a new position in FAT Brands in the 1st quarter worth about $83,000. Legacy Financial Advisors Inc. bought a new position in FAT Brands in the 2nd quarter worth about $103,000. Finally, Divisadero Street Capital Management LP boosted its stake in FAT Brands by 22.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 175,428 shares of the company’s stock worth $900,000 after purchasing an additional 32,048 shares during the period. Hedge funds and other institutional investors own 6.90% of the company’s stock.

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.