Legacy Financial Advisors Inc. Takes Position in FAT Brands Inc. (NASDAQ:FAT)

Legacy Financial Advisors Inc. bought a new position in shares of FAT Brands Inc. (NASDAQ:FAT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

Separately, Divisadero Street Capital Management LP raised its holdings 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 valued at $900,000 after acquiring an additional 32,048 shares in the last quarter. Institutional investors own 6.90% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Elenowitz acquired 6,200 shares of the stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $11.00 per share, for a total transaction of $68,200.00. Following the purchase, the director now owns 9,200 shares in the company, valued at approximately $101,200. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired 9,564 shares of company stock valued at $97,897 over the last quarter. Corporate insiders own 11.84% of the company’s stock.

FAT Brands Trading Down 4.0 %

Shares of NASDAQ:FAT opened at $4.75 on Monday. The firm has a market capitalization of $74.73 million, a PE ratio of -0.77 and a beta of 1.83. FAT Brands Inc. has a 1-year low of $4.51 and a 1-year high of $9.48. The business’s 50 day moving average is $5.17 and its 200-day moving average is $5.94.

FAT Brands (NASDAQ:FAT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates 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 earned ($0.53) EPS. On average, sell-side analysts predict that FAT Brands Inc. will post -8.08 EPS for the current year.

FAT Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 11.79%. This is a boost from FAT Brands’s previous quarterly dividend of $0.13. FAT Brands’s payout ratio is presently -9.08%.

FAT Brands 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.