Short Interest in FAT Brands Inc. (NASDAQ:FAT) Grows By 8.0%

FAT Brands Inc. (NASDAQ:FAT) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 39,000 shares, a growth of 8.0% from the June 30th total of 36,100 shares. Based on an average trading volume of 30,900 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FAT Brands stock. Simplicity Wealth LLC bought a new position in FAT Brands Inc. (NASDAQ:FAT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,928 shares of the company’s stock, valued at approximately $83,000. Simplicity Wealth LLC owned approximately 0.07% of FAT Brands at the end of the most recent quarter. 6.90% of the stock is owned by hedge funds and other institutional investors.

FAT Brands Trading Down 3.4 %

NASDAQ FAT traded down $0.19 on Tuesday, hitting $5.44. The company’s stock had a trading volume of 13,968 shares, compared to its average volume of 25,757. FAT Brands has a 52-week low of $4.51 and a 52-week high of $9.48. The firm has a market cap of $85.63 million, a P/E ratio of -0.88 and a beta of 1.82. The company’s 50-day simple moving average is $5.25 and its 200 day simple moving average is $6.76.

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

FAT Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 10.29%. The ex-dividend date is Thursday, August 15th. This is a positive change from FAT Brands’s previous quarterly dividend of $0.13. FAT Brands’s dividend payout ratio (DPR) is -9.08%.

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.