FAT Brands Inc. (NASDAQ:FAT) Short Interest Up 51.1% in October

FAT Brands Inc. (NASDAQ:FAT) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 79,000 shares, an increase of 51.1% from the October 15th total of 52,300 shares. Based on an average trading volume of 21,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 1.7% of the shares of the stock are sold short.

Insider Buying and Selling at FAT Brands

In other FAT Brands news, Director Mark Elenowitz purchased 6,200 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average cost of $11.00 per share, with a total value of $68,200.00. Following the completion of the acquisition, the director now directly owns 9,200 shares of the company’s stock, valued at $101,200. This represents a 206.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 7,544 shares of company stock valued at $81,528. 11.84% of the stock is currently owned by company insiders.

Institutional Trading of FAT Brands

An institutional investor recently bought a new position in FAT Brands stock. Legacy Financial Advisors Inc. bought a new position in shares of FAT Brands Inc. (NASDAQ:FAT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $103,000. Legacy Financial Advisors Inc. owned 0.13% of FAT Brands at the end of the most recent quarter. 6.90% of the stock is owned by hedge funds and other institutional investors.

FAT Brands Trading Down 1.3 %

Shares of FAT Brands stock traded down $0.07 during trading on Friday, reaching $5.29. The company’s stock had a trading volume of 23,159 shares, compared to its average volume of 24,238. The stock has a 50-day moving average price of $5.06 and a two-hundred day moving average price of $5.31. FAT Brands has a one year low of $4.51 and a one year high of $9.48. The stock has a market capitalization of $83.79 million, a P/E ratio of -0.57 and a beta of 1.80.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($2.74) 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 last year, the firm posted ($1.59) EPS. As a group, sell-side analysts anticipate that FAT Brands will post -10.23 EPS 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 given a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a yield of 10.59%. FAT Brands’s payout ratio is -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.