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

FAT Brands Inc. (NASDAQ:FAT) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 79,000 shares, a growth of 51.1% from the October 15th total of 52,300 shares. Based on an average daily volume of 21,000 shares, the short-interest ratio is currently 3.8 days. Currently, 1.7% of the company’s stock are sold short.

Insider Activity

In other news, Director Mark Elenowitz bought 6,200 shares of the business’s stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $68,200.00. Following the purchase, the director now owns 9,200 shares of the company’s stock, valued at approximately $101,200. The trade was a 206.67 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 7,544 shares of company stock worth $81,528 in the last 90 days. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Divisadero Street Capital Management LP lifted its stake in shares of FAT Brands Inc. (NASDAQ:FAT) by 22.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,428 shares of the company’s stock after purchasing an additional 32,048 shares during the period. Divisadero Street Capital Management LP owned 1.12% of FAT Brands worth $900,000 at the end of the most recent quarter. 6.90% of the stock is currently owned by institutional investors.

FAT Brands Stock Performance

NASDAQ FAT traded down $0.07 during trading on Friday, hitting $5.29. The stock had a trading volume of 23,159 shares, compared to its average volume of 24,238. The company has a market capitalization of $83.79 million, a PE ratio of -0.57 and a beta of 1.80. The company’s 50-day moving average price is $5.06 and its two-hundred day moving average price is $5.31. FAT Brands has a 12 month low of $4.51 and a 12 month high of $9.48.

FAT Brands (NASDAQ:FAT) last released its earnings results on Wednesday, October 30th. The company reported ($2.74) EPS for the quarter, missing the consensus estimate of ($1.88) by ($0.86). The business had revenue of $143.37 million during the quarter, compared to analysts’ expectations of $159.85 million. During the same quarter last year, the firm earned ($1.59) EPS. As a group, equities analysts anticipate that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 10.59%. The ex-dividend date of this dividend is Friday, November 15th. FAT Brands’s dividend payout ratio is currently -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.