FAT Brands Inc. (NASDAQ:FAT) Sees Significant Increase in Short Interest

FAT Brands Inc. (NASDAQ:FAT) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 74,700 shares, a growth of 11.2% from the December 15th total of 67,200 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 19,800 shares, the short-interest ratio is currently 3.8 days.

FAT Brands Stock Performance

FAT Brands stock traded up $0.12 during mid-day trading on Monday, reaching $5.49. 79,770 shares of the company were exchanged, compared to its average volume of 15,717. FAT Brands has a 12-month low of $4.51 and a 12-month high of $9.48. The business has a fifty day moving average of $5.39 and a 200 day moving average of $5.20. The firm has a market cap of $93.93 million, a P/E ratio of -0.60 and a beta of 1.80.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($2.74) earnings per share 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 prior year, the business earned ($1.59) EPS. Sell-side analysts predict that FAT Brands will post -10.23 EPS for the current year.

FAT Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 10.20%. The ex-dividend date was Friday, November 15th. FAT Brands’s dividend payout ratio is currently -6.07%.

Institutional Investors Weigh In On FAT Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Financial Advisors Inc. acquired a new stake in shares of FAT Brands during the second quarter worth $103,000. Divisadero Street Capital Management LP raised 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 acquiring an additional 32,048 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in FAT Brands during the 4th quarter worth about $85,000. 6.90% of the stock is currently owned by hedge funds and other institutional investors.

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.