Divisadero Street Capital Management LP Purchases 32,048 Shares of FAT Brands Inc. (NASDAQ:FAT)

Divisadero Street Capital Management LP lifted its position in FAT Brands Inc. (NASDAQ:FAT) by 22.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,428 shares of the company’s stock after buying an additional 32,048 shares during the quarter. Divisadero Street Capital Management LP owned about 1.12% of FAT Brands worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Simplicity Wealth LLC acquired a new position in FAT Brands during the 1st quarter worth $83,000. Institutional investors and hedge funds own 6.90% of the company’s stock.

Insider Activity at FAT Brands

In related news, Director Mark Elenowitz purchased 6,200 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were bought at an average cost of $11.00 per share, for a total transaction of $68,200.00. Following the transaction, the director now directly owns 9,200 shares of the company’s stock, valued at approximately $101,200. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 9,564 shares of company stock worth $97,897 in the last ninety days. 11.84% of the stock is currently owned by insiders.

FAT Brands Stock Performance

Shares of NASDAQ:FAT opened at $4.95 on Friday. The stock’s 50-day moving average is $5.18 and its 200-day moving average is $6.00. The company has a market cap of $77.87 million, a P/E ratio of -0.80 and a beta of 1.83. FAT Brands Inc. has a 52-week low of $4.51 and a 52-week high of $9.48.

FAT Brands (NASDAQ:FAT) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $156.35 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. As a group, equities analysts predict that FAT Brands Inc. will post -8.08 EPS for the current year.

FAT Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 11.31%. This is a positive change from FAT Brands’s previous quarterly dividend of $0.13. FAT Brands’s payout ratio is -9.08%.

FAT Brands 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.