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

FAT Brands Inc. (NASDAQ:FAT - Get Free Report) was the recipient of a significant growth in short interest in the month of 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. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 21,000 shares, the days-to-cover ratio is currently 3.8 days.

FAT Brands Trading Down 1.3 %

Shares of NASDAQ FAT traded down $0.07 during midday trading on Friday, hitting $5.29. 23,159 shares of the company's stock were exchanged, compared to its average volume of 24,238. The business's fifty day moving average price is $5.06 and its two-hundred day moving average price is $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 12-month low of $4.51 and a 12-month high of $9.48.

FAT Brands (NASDAQ:FAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($2.74) EPS for the quarter, missing analysts' consensus estimates of ($1.88) by ($0.86). The firm had revenue of $143.37 million for the quarter, compared to analysts' expectations of $159.85 million. During the same quarter last year, the firm earned ($1.59) earnings per share. Equities analysts expect that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Announces Dividend

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

Insiders Place Their Bets

In other news, Director Mark Elenowitz purchased 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, with a total value of $68,200.00. Following the acquisition, the director now directly owns 9,200 shares in the company, valued at approximately $101,200. This trade represents a 206.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 7,544 shares of company stock worth $81,528 over the last quarter. 11.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. Legacy Financial Advisors Inc. bought a new position in FAT Brands Inc. (NASDAQ:FAT - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 20,000 shares of the company's stock, valued at approximately $103,000. Legacy Financial Advisors Inc. owned 0.13% of FAT Brands as of its most recent SEC filing. 6.90% of the stock is currently owned by institutional investors and hedge funds.

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.