Short Interest in FAT Brands Inc. (NASDAQ:FAT) Increases By 55.7%

FAT Brands Inc. (NASDAQ:FAT) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 47,800 shares, a growth of 55.7% from the May 15th total of 30,700 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 27,200 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. Simplicity Wealth LLC acquired a new stake in shares of FAT Brands Inc. (NASDAQ:FAT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,928 shares of the company’s stock, valued at approximately $83,000. Simplicity Wealth LLC owned about 0.07% of FAT Brands at the end of the most recent reporting period. 6.90% of the stock is currently owned by hedge funds and other institutional investors.

FAT Brands Trading Up 0.3 %

FAT stock opened at $5.36 on Friday. The stock has a 50-day simple moving average of $6.36 and a 200-day simple moving average of $6.98. FAT Brands has a 1 year low of $5.07 and a 1 year high of $9.48.

FAT Brands (NASDAQ:FAT) last posted its quarterly earnings data 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 firm had revenue of $151.97 million for the quarter, compared to the consensus estimate of $163.35 million. On average, research analysts expect that FAT Brands will post -8.08 earnings per share for the current fiscal year.

FAT Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were given a $0.14 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.56 dividend on an annualized basis and a yield of 10.45%. FAT Brands’s payout ratio is currently -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.