Flanigan’s Enterprises, Inc. (NYSEAMERICAN:BDL) Sees Large Growth in Short Interest

Flanigan’s Enterprises, Inc. (NYSEAMERICAN:BDL) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 6,501 shares, a growth of 195.8% from the May 31st total of 2,198 shares. Based on an average daily trading volume, of 3,728 shares, the short-interest ratio is currently 1.7 days. Approximately 0.9% of the company’s stock are short sold.

Flanigan’s Enterprises Stock Down 1.1%

Shares of NYSEAMERICAN BDL traded down $0.50 during midday trading on Friday, reaching $44.00. 2,988 shares of the company’s stock were exchanged, compared to its average volume of 12,833. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.84. Flanigan’s Enterprises has a 52-week low of $26.33 and a 52-week high of $47.99. The business’s fifty day moving average price is $34.36 and its two-hundred day moving average price is $32.65. The stock has a market capitalization of $81.84 million, a PE ratio of 13.71 and a beta of 0.35.

Flanigan’s Enterprises Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, June 26th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.60 per share. This is a boost from Flanigan’s Enterprises’s previous annual dividend of $0.55. The ex-dividend date was Wednesday, June 10th. This represents a yield of 170.0%. Flanigan’s Enterprises’s payout ratio is 33.90%.

Insiders Place Their Bets

In other news, CEO James Flanigan II acquired 1,899 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $31.76 per share, with a total value of $60,312.24. Following the transaction, the chief executive officer directly owned 983,971 shares in the company, valued at approximately $31,250,918.96. This represents a 0.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have bought 2,000 shares of company stock valued at $63,453. Corporate insiders own 62.30% of the company’s stock.

Hedge Funds Weigh In On Flanigan’s Enterprises

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC raised its position in shares of Flanigan’s Enterprises by 3.1% in the 1st quarter. Empowered Funds LLC now owns 14,725 shares of the company’s stock valued at $364,000 after purchasing an additional 445 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flanigan’s Enterprises by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 63,747 shares of the company’s stock worth $2,032,000 after buying an additional 516 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Flanigan’s Enterprises during the second quarter worth approximately $249,000. 11.03% of the stock is owned by institutional investors and hedge funds.

About Flanigan’s Enterprises

Flanigan’s Enterprises, Inc operates as a regional distributor of beer, wine and distilled spirits, serving a range of retail and on-premise accounts throughout Florida. The company manages a network of wholesale distribution centers and provides a portfolio of both domestic and imported beverage brands. Through its Beverage Distribution & Logistics segment, Flanigan’s delivers products to grocery stores, convenience markets, restaurants, bars and clubs, leveraging its industry relationships to secure a diverse assortment of products for its customers.

To support its distribution operations, Flanigan’s Enterprises maintains warehousing, transportation and inventory management capabilities.