FAT Brands Inc. (NASDAQ:FAT – Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 55,000 shares, an increase of 12.0% from the September 15th total of 49,100 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average trading volume of 23,600 shares, the short-interest ratio is currently 2.3 days.
Insider Buying and Selling at FAT Brands
In other news, Director Mark Elenowitz acquired 6,200 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $11.00 per share, with a total value of $68,200.00. Following the completion of the purchase, the director now owns 9,200 shares of the company’s stock, valued at $101,200. This represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 9,564 shares of company stock worth $97,897 over the last three months. Insiders own 11.84% of the company’s stock.
Hedge Funds Weigh In On FAT Brands
An institutional investor recently bought a new position in FAT Brands stock. Legacy Financial Advisors Inc. acquired a new position in shares of FAT Brands Inc. (NASDAQ:FAT – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $103,000. Legacy Financial Advisors Inc. owned approximately 0.13% of FAT Brands as of its most recent filing with the SEC. 6.90% of the stock is currently owned by institutional investors.
FAT Brands Trading Down 1.9 %
FAT Brands (NASDAQ:FAT – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.00) by ($0.43). The company 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. Equities analysts expect that FAT Brands will post -8.08 EPS for the current 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.
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