FAT Brands Inc. (NASDAQ:FAT) Short Interest Down 15.7% in August

FAT Brands Inc. (NASDAQ:FAT) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 48,300 shares, a drop of 15.7% from the August 15th total of 57,300 shares. Based on an average trading volume of 23,900 shares, the short-interest ratio is currently 2.0 days. Currently, 1.0% of the shares of the company are short sold.

Insider Activity

In other FAT Brands news, Director Mark Elenowitz purchased 6,200 shares of the stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $11.00 per share, with a total value of $68,200.00. Following the completion of the transaction, the director now directly owns 9,200 shares in the company, valued at $101,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 9,564 shares of company stock valued at $97,897 in the last quarter. Company insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAT. Simplicity Wealth LLC acquired a new position in shares of FAT Brands during the 1st quarter worth approximately $83,000. Legacy Financial Advisors Inc. bought a new stake in shares of FAT Brands in the second quarter valued at approximately $103,000. Finally, Divisadero Street Capital Management LP grew its position in FAT Brands by 22.4% during the second quarter. Divisadero Street Capital Management LP now owns 175,428 shares of the company’s stock worth $900,000 after buying an additional 32,048 shares in the last quarter. 6.90% of the stock is owned by institutional investors and hedge funds.

FAT Brands Trading Down 1.4 %

Shares of NASDAQ:FAT traded down $0.07 on Wednesday, hitting $4.77. The company had a trading volume of 28,704 shares, compared to its average volume of 25,277. The stock has a market cap of $75.04 million, a price-to-earnings ratio of -0.79 and a beta of 1.83. The stock has a 50 day moving average price of $5.18 and a 200 day moving average price of $6.01. FAT Brands has a 1-year low of $4.51 and a 1-year high of $9.48.

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

FAT Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a dividend of $0.14 per share. This is a boost from FAT Brands’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 11.74%. The ex-dividend date was Thursday, August 15th. FAT Brands’s dividend payout ratio (DPR) is presently -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.