FAT Brands (NASDAQ:FAT) Stock Price Down 0.4% – Here’s Why

Shares of FAT Brands Inc. (NASDAQ:FAT) were down 0.4% during trading on Tuesday . The company traded as low as $5.35 and last traded at $5.48. Approximately 15,797 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 23,847 shares. The stock had previously closed at $5.50.

FAT Brands Stock Down 0.4 %

The stock has a market capitalization of $87.21 million, a P/E ratio of -0.59 and a beta of 1.79. The company has a fifty day simple moving average of $5.33 and a two-hundred day simple moving average of $5.19.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($2.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.86). The business had revenue of $143.37 million for the quarter, compared to analysts’ expectations of $159.85 million. During the same quarter in the prior year, the firm posted ($1.59) earnings per share. As a group, equities analysts forecast that FAT Brands Inc. will post -10.23 earnings per share for the current year.

FAT Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, November 15th. This represents a $0.56 annualized dividend and a dividend yield of 10.22%. FAT Brands’s dividend payout ratio is currently -6.07%.

Hedge Funds Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Divisadero Street Capital Management LP increased its position in shares of FAT Brands Inc. (NASDAQ:FAT) by 22.4% during the second quarter, according to the company in its most recent disclosure 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 period. Divisadero Street Capital Management LP owned 1.12% of FAT Brands worth $900,000 as of its most recent filing with the Securities and Exchange Commission. 6.90% of the stock is currently owned by institutional investors.

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.