Flanigan's Enterprises (NYSEAMERICAN:BDL) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Flanigan’s Enterprises shares rose above their 200-day moving average of $35.38, reaching as high as $45.65 before last trading at $41.60. The stock was up 1.5% on trading volume of 28,445 shares.
• The company increased its annual dividend to $0.60 per share, up from $0.55, with a reported payout ratio of 33.90%.
• CEO James Flanigan II purchased 1,899 shares, and insiders collectively own 62.30% of the company. Institutional investors and hedge funds hold an additional 11.03% stake.

Shares of Flanigan's Enterprises, Inc. (NYSEAMERICAN:BDL - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $35.38 and traded as high as $45.65. Flanigan's Enterprises shares last traded at $41.60, with a volume of 28,445 shares trading hands.

Flanigan's Enterprises Trading Up 1.5%

The business has a 50 day moving average of $41.18 and a 200 day moving average of $35.38. The firm has a market capitalization of $77.38 million, a price-to-earnings ratio of 12.96 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.84 and a quick ratio of 1.47.

Flanigan's Enterprises Increases Dividend

The company also recently disclosed 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. This represents a yield of 170.0%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from Flanigan's Enterprises's previous annual dividend of $0.55. Flanigan's Enterprises's payout ratio is 33.90%.

Insider Transactions at Flanigan's Enterprises

In other news, CEO James Flanigan II bought 1,899 shares of the stock in a transaction on Monday, May 18th. The stock was purchased at an average price of $31.76 per share, with a total value of $60,312.24. Following the completion of the purchase, the chief executive officer owned 983,971 shares of the company's stock, valued at approximately $31,250,918.96. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 2,000 shares of company stock worth $63,453 in the last ninety days. 62.30% of the stock is currently owned by insiders.

Institutional Trading of Flanigan's Enterprises

Several hedge funds have recently added to or reduced their stakes in BDL. Empowered Funds LLC grew its stake in 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 acquiring an additional 445 shares during the period. Geode Capital Management LLC bought a new position in shares of Flanigan's Enterprises during the 2nd quarter valued at about $249,000. Dimensional Fund Advisors LP lifted its holdings in shares of Flanigan's Enterprises by 0.8% during 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 in the last quarter. Finally, BlackRock Inc. acquired a new position in shares of Flanigan's Enterprises in the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds own 11.03% of the company's stock.

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.

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