FAT Brands (NASDAQ:FATBB) Shares Down 7% – Here’s What Happened

FAT Brands Inc. (NASDAQ:FATBB)’s share price fell 7% during trading on Wednesday . The company traded as low as $4.67 and last traded at $4.67. 639 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 12,408 shares. The stock had previously closed at $5.02.

FAT Brands Trading Down 7.0 %

The stock has a market capitalization of $79.90 million, a price-to-earnings ratio of -0.51 and a beta of 0.88. The stock has a 50-day simple moving average of $4.62 and a 200 day simple moving average of $4.79.

FAT Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.56 annualized dividend and a dividend yield of 11.99%. FAT Brands’s dividend payout ratio is -6.07%.

Hedge Funds Weigh In On FAT Brands

A hedge fund recently raised its stake in FAT Brands stock. Geode Capital Management LLC lifted its stake in FAT Brands Inc. (NASDAQ:FATBB) by 14.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,307 shares of the company’s stock after acquiring an additional 5,936 shares during the period. Geode Capital Management LLC’s holdings in FAT Brands were worth $225,000 at the end of the most recent reporting period.

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.