Saturday, 18 May 2024


Fat Brands director buys shares worth over $10k By

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In a recent move that has caught the attention of investors, Fat Brands, Inc. (NASDAQ:FAT) director Andrew Wiederhorn has increased his stake in the company through a series of stock purchases. The transactions, which occurred over two days, amounted to over $10,000 in total value.

On May 14, Wiederhorn acquired 39 shares of Fat Brands’ Class B Common Stock at a weighted average price between $5.00 and $5.25 per share. The following day, he added 1,961 shares to his holdings, with purchases made at an average price of $5.25, including some shares at a slightly lower price of $5.2499. These transactions have brought Wiederhorn’s direct ownership in the company to a total of 10,079 Class B shares.

The purchases made by Wiederhorn demonstrate a tangible commitment to the company’s future, as directors’ stock transactions are often seen as a reflection of their confidence in the business’s prospects. Notably, the director’s investments have contributed to a slight increase in the price range for the company’s stock.

Additionally, it is worth mentioning that Wiederhorn is associated with Fog Cutter Holdings LLC, which directly owns 706,514 shares of Fat Brands. However, Wiederhorn has disclaimed beneficial ownership of Fog Cutter’s holdings except to the extent of his pecuniary interest.

The recent acquisitions by Wiederhorn underscore a continued interest from insiders in the growth and success of Fat Brands, a company well-known in the retail eating places sector. Investors tend to keep a close eye on insider transactions as they can provide insights into the company’s internal expectations and strategic direction.

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InvestingPro Insights

Amidst the recent insider stock purchases by Fat Brands, Inc. (NASDAQ:FAT) director Andrew Wiederhorn, InvestingPro data and insights offer a deeper understanding of the company’s financial health and market performance. Despite Wiederhorn’s confidence, Fat Brands operates with a significant debt burden, which is an important consideration for investors evaluating the company’s long-term sustainability.

Nevertheless, the company has demonstrated a commitment to returning value to shareholders, having raised its dividend for three consecutive years. This is a positive signal for income-focused investors, especially when considering the current dividend yield of 10.14%, a substantial return in today’s market. The company’s revenue has…

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