Ridgewood Investments LLC Cuts Stake in FAT Brands Inc. (NASDAQ:FAT)

Ridgewood Investments LLC reduced its stake in shares of FAT Brands Inc. (NASDAQ:FAT) by 29.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,493 shares of the company’s stock after selling 20,000 shares during the period. Ridgewood Investments LLC owned 0.31% of FAT Brands worth $369,000 as of its most recent SEC filing.

FAT Brands Trading Down 1.5 %

FAT stock traded down $0.08 during mid-day trading on Friday, hitting $5.26. 2,520 shares of the company were exchanged, compared to its average volume of 25,939. FAT Brands Inc. has a 12-month low of $5.07 and a 12-month high of $9.48. The business has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $6.96.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($2.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.98). The business had revenue of $151.97 million for the quarter, compared to the consensus estimate of $163.35 million. On average, analysts predict that FAT Brands Inc. will post -8.08 EPS for the current year.

FAT Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 10.65%. The ex-dividend date was Tuesday, May 14th. FAT Brands’s dividend payout ratio is presently -9.08%.

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.