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

Flanigan’s Enterprises, Inc. (NYSEAMERICAN:BDL) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 1,799 shares, a drop of 73.4% from the June 30th total of 6,766 shares. Based on an average trading volume of 28,077 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.3% of the company’s shares are short sold.

Flanigan’s Enterprises Stock Down 3.8%

Shares of Flanigan’s Enterprises stock opened at $37.94 on Tuesday. The business has a fifty day simple moving average of $39.13 and a 200 day simple moving average of $34.54. The stock has a market cap of $70.57 million, a PE ratio of 11.82 and a beta of 0.25. The company has a quick ratio of 1.47, a current ratio of 1.84 and a debt-to-equity ratio of 0.22. Flanigan’s Enterprises has a 12 month low of $26.33 and a 12 month high of $47.99.

Flanigan’s Enterprises Increases Dividend

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

Insider Buying and Selling

In other Flanigan’s Enterprises news, CEO James Flanigan II bought 1,899 shares of the company’s stock in a transaction on Monday, May 18th. The stock was bought at an average price of $31.76 per share, for a total transaction of $60,312.24. Following the transaction, the chief executive officer owned 983,971 shares of the company’s stock, valued at approximately $31,250,918.96. The trade was a 0.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Flanigan’s Enterprises by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 63,747 shares of the company’s stock worth $2,032,000 after acquiring an additional 516 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Flanigan’s Enterprises during the 2nd quarter valued at about $249,000. Finally, Empowered Funds LLC lifted its holdings in shares of Flanigan’s Enterprises by 3.1% during 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. 11.03% of the stock is currently owned by institutional investors.

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.