Short Interest in FAT Brands Inc. (NASDAQ:FAT) Rises By 51.1%

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

Insider Transactions at FAT Brands

In other news, Director Mark Elenowitz bought 6,200 shares of the business’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $68,200.00. Following the completion of the transaction, the director now directly owns 9,200 shares of the company’s stock, valued at approximately $101,200. This trade represents a 206.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have acquired 7,544 shares of company stock valued at $81,528. 11.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FAT Brands

A hedge fund recently raised its stake in FAT Brands stock. Divisadero Street Capital Management LP boosted its holdings in shares of FAT Brands Inc. (NASDAQ:FAT) by 22.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 175,428 shares of the company’s stock after acquiring an additional 32,048 shares during the period. Divisadero Street Capital Management LP owned 1.12% of FAT Brands worth $900,000 as of its most recent filing with the SEC. 6.90% of the stock is owned by institutional investors and hedge funds.

FAT Brands Stock Down 1.3 %

Shares of FAT traded down $0.07 during mid-day trading on Friday, reaching $5.29. The company’s stock had a trading volume of 23,159 shares, compared to its average volume of 24,238. The business has a fifty day moving average of $5.06 and a 200 day moving average of $5.31. The company has a market cap of $83.79 million, a price-to-earnings ratio of -0.57 and a beta of 1.80. FAT Brands has a 1 year low of $4.51 and a 1 year high of $9.48.

FAT Brands (NASDAQ:FAT) last posted its earnings results on Wednesday, October 30th. The company reported ($2.74) earnings per share 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 the consensus estimate of $159.85 million. During the same quarter in the prior year, the business posted ($1.59) EPS. On average, analysts predict that FAT Brands will post -10.23 earnings per share for the current year.

FAT Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 10.59%. The ex-dividend date is Friday, November 15th. FAT Brands’s payout ratio is -6.07%.

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.