FAT Brands Inc. (NASDAQ:FAT) Short Interest Up 27.4% in April

FAT Brands Inc. (NASDAQ:FATGet Rating) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 162,800 shares, a growth of 27.4% from the April 15th total of 127,800 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average trading volume of 22,800 shares, the short-interest ratio is currently 7.1 days.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in FAT Brands by 8.4% in the third quarter. BlackRock Inc. now owns 12,971 shares of the company’s stock valued at $121,000 after purchasing an additional 1,002 shares in the last quarter. Geode Capital Management LLC increased its stake in FAT Brands by 38.9% in the third quarter. Geode Capital Management LLC now owns 14,230 shares of the company’s stock valued at $132,000 after purchasing an additional 3,987 shares in the last quarter. L & S Advisors Inc bought a new stake in FAT Brands in the first quarter valued at $112,000. Millennium Management LLC bought a new stake in FAT Brands in the third quarter valued at $237,000. Finally, Brookstone Capital Management bought a new stake in FAT Brands in the fourth quarter valued at $356,000. 6.37% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on FAT shares. Zacks Investment Research downgraded shares of FAT Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, March 25th. TheStreet downgraded shares of FAT Brands from a “c” rating to a “d+” rating in a research note on Wednesday, February 16th.

NASDAQ FAT traded down $0.23 during mid-day trading on Tuesday, reaching $6.66. 100 shares of the stock were exchanged, compared to its average volume of 23,020. FAT Brands has a one year low of $5.47 and a one year high of $15.99. The stock has a 50 day simple moving average of $6.77 and a 200-day simple moving average of $9.04. The stock has a market cap of $100.77 million, a P/E ratio of -1.93 and a beta of 2.11.

FAT Brands (NASDAQ:FATGet Rating) last announced its earnings results on Monday, March 21st. The company reported ($1.16) earnings per share for the quarter. The company had revenue of $74.19 million for the quarter, compared to analyst estimates of $57.50 million. Sell-side analysts expect that FAT Brands will post -3.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 7.81%. The ex-dividend date of this dividend is Friday, May 13th. FAT Brands’s dividend payout ratio (DPR) is currently -14.57%.

FAT Brands Company Profile (Get Rating)

FAT Brands Inc, a multi-brand franchising company, acquires, develops, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. As of December 26, 2021, it owned seventeen restaurant brands, including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, and Ponderosa Steakhouse/Bonanza Steakhouse, as well as operated 129 directly owned restaurants and 2,240 franchised locations.

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