FAT Brands Inc. (NASDAQ:FAT) Sees Large Growth in Short Interest

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 55,000 shares, a growth of 12.0% from the September 15th total of 49,100 shares. Based on an average trading volume of 23,600 shares, the short-interest ratio is presently 2.3 days. Currently, 1.2% of the shares of the company are short sold.

Insider Activity at FAT Brands

In other news, Director Mark Elenowitz acquired 6,200 shares of FAT Brands stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $68,200.00. Following the completion of the purchase, the director now directly owns 9,200 shares of the company’s stock, valued at approximately $101,200. This represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have acquired 9,564 shares of company stock worth $97,897. Corporate insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in FAT Brands stock. Legacy Financial Advisors Inc. bought a new position in FAT Brands Inc. (NASDAQ:FAT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $103,000. Legacy Financial Advisors Inc. owned about 0.13% of FAT Brands at the end of the most recent quarter. 6.90% of the stock is currently owned by institutional investors and hedge funds.

FAT Brands Trading Up 1.0 %

FAT Brands stock traded up $0.05 during trading hours on Tuesday, reaching $5.26. 8,302 shares of the stock were exchanged, compared to its average volume of 24,828. The company has a market cap of $82.75 million, a P/E ratio of -0.85 and a beta of 1.81. FAT Brands has a twelve month low of $4.51 and a twelve month high of $9.48. The stock has a 50 day moving average of $5.01 and a two-hundred day moving average of $5.61.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.00) by ($0.43). The business had revenue of $152.04 million for the quarter, compared to analysts’ expectations of $156.35 million. During the same quarter last year, the firm earned ($0.53) EPS. On average, analysts expect that FAT Brands will post -8.08 earnings per share for the current fiscal year.

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.