Short Interest in FAT Brands Inc. (NASDAQ:FAT) Drops By 6.3%

FAT Brands Inc. (NASDAQ:FAT) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 44,800 shares, a decline of 6.3% from the May 31st total of 47,800 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 27,200 shares, the days-to-cover ratio is presently 1.6 days.

FAT Brands Stock Performance

FAT stock opened at $4.56 on Thursday. FAT Brands has a 52-week low of $4.51 and a 52-week high of $9.48. The stock’s 50 day moving average is $5.80 and its two-hundred day moving average is $6.91.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($2.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.98). The firm had revenue of $151.97 million during the quarter, compared to analyst estimates of $163.35 million. As a group, equities research analysts predict that FAT Brands will post -8.08 EPS for the current fiscal year.

FAT Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a $0.14 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 12.28%. FAT Brands’s dividend payout ratio (DPR) is -9.08%.

Institutional Investors Weigh In On FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. Simplicity Wealth LLC purchased a new stake in FAT Brands Inc. (NASDAQ:FAT) in the first quarter, according to its most recent filing with the SEC. The fund purchased 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 quarter. 6.90% of the stock is currently owned by institutional investors and hedge funds.

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.