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

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

Insiders Place Their Bets

In related news, CEO James Flanigan II purchased 1,899 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $31.76 per share, for a total transaction of $60,312.24. Following the acquisition, the chief executive officer owned 983,971 shares in the company, valued at approximately $31,250,918.96. This trade represents a 0.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 2,000 shares of company stock worth $63,453. 62.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Flanigan’s Enterprises

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake 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 valued at $2,032,000 after purchasing an additional 516 shares during the period. Empowered Funds LLC boosted its stake in shares of Flanigan’s Enterprises by 3.1% in the first quarter. Empowered Funds LLC now owns 14,725 shares of the company’s stock valued at $364,000 after purchasing an additional 445 shares during the period. Finally, Geode Capital Management LLC purchased a new position in shares of Flanigan’s Enterprises in the second quarter valued at $249,000. Institutional investors and hedge funds own 11.03% of the company’s stock.

Flanigan’s Enterprises Stock Down 1.1%

Shares of BDL traded down $0.50 during midday trading on Friday, reaching $44.00. 2,988 shares of the company were exchanged, compared to its average volume of 12,833. Flanigan’s Enterprises has a 1-year low of $26.33 and a 1-year high of $47.99. The stock has a 50-day moving average price of $34.36 and a 200-day moving average price of $32.65. The company has a current ratio of 1.84, a quick ratio of 1.47 and a debt-to-equity ratio of 0.22. The company has a market cap of $81.84 million, a price-to-earnings ratio of 13.71 and a beta of 0.35.

Flanigan’s Enterprises Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, June 26th. Investors of record on Wednesday, June 10th were given 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 of this dividend was Wednesday, June 10th. This represents a yield of 170.0%. Flanigan’s Enterprises’s dividend payout ratio is presently 33.90%.

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.