Flanigan's Enterprises, Inc. (NYSEAMERICAN:BDL) Short Interest Update

Key Points

• Short interest in Flanigan's Enterprises fell sharply in July, dropping 73.4% to 1,799 shares as of July 15 from 6,766 shares at the end of June. That puts short interest at just 0.3% of the float, with a very low days-to-cover ratio of 0.1.
• CEO James Flanigan II bought 1,899 shares in May at $31.76 each, increasing his stake by 0.19%. Corporate insiders own a large majority of the company, holding 62.30% of shares.
• BDL shares rose 3.8% to $39.44 in Friday trading, and the company recently increased its annual dividend to $0.60 per share from $0.55. Flanigan's also has a low debt load, with a debt-to-equity ratio of 0.22.

Flanigan's Enterprises, Inc. (NYSEAMERICAN:BDL - Get Free Report) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 1,799 shares, a decrease of 73.4% from the June 30th total of 6,766 shares. Currently, 0.3% of the company's stock are short sold. Based on an average trading volume of 28,077 shares, the days-to-cover ratio is presently 0.1 days.

Insider Activity at Flanigan's Enterprises

In other Flanigan's Enterprises news, CEO James Flanigan II acquired 1,899 shares of the company's stock in a transaction dated Monday, May 18th. The shares were acquired at an average price 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 $31,250,918.96. The trade was a 0.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 2,000 shares of company stock valued at $63,453. Corporate insiders own 62.30% of the company's stock.

Institutional Investors Weigh In On Flanigan's Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of BDL. Geode Capital Management LLC purchased a new position in shares of Flanigan's Enterprises during the second quarter worth about $249,000. Empowered Funds LLC boosted 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Flanigan's Enterprises by 0.8% in the 3rd 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. 11.03% of the stock is owned by hedge funds and other institutional investors.

Flanigan's Enterprises Stock Up 3.8%

BDL traded up $1.44 on Friday, reaching $39.44. The company's stock had a trading volume of 24,777 shares, compared to its average volume of 35,807. The company has a market capitalization of $73.36 million, a price-to-earnings ratio of 12.29 and a beta of 0.25. Flanigan's Enterprises has a fifty-two week low of $26.33 and a fifty-two week high of $47.99. The company has a quick ratio of 1.47, a current ratio of 1.84 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $39.00 and a two-hundred day moving average of $34.46.

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 paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, June 10th. This represents a yield of 170.0%. This is an increase from Flanigan's Enterprises's previous annual dividend of $0.55. Flanigan's Enterprises's dividend payout ratio (DPR) is 33.90%.

Flanigan's Enterprises Company Profile

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.

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