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FORT LAUDERDALE, Fla.—James G. Flanigan II, the Chief Operating Officer and President of Flanigan’s Enterprises Inc. (NYSE:BDL), has made significant purchases of the company’s stock, according to a recent SEC filing. On May 21, Flanigan acquired a total of 10,940 shares of common stock, valued at approximately $277,776. The purchases were made at prices ranging from $23.75 to $27.00 per share. The timing appears strategic, as InvestingPro analysis shows the company trading at an attractive P/E ratio of 12.75 with strong fundamentals, including 9.31% revenue growth in the last twelve months.
Following these transactions, Flanigan’s direct ownership of the company’s stock increased to 980,130 shares. The transactions include various holdings, such as shares owned by a limited liability company managed by Flanigan and a trust for which he serves as trustee. InvestingPro data reveals the company maintains a healthy financial position with liquid assets exceeding short-term obligations and an overall Financial Health Score rated as GOOD.
Flanigan’s increased stake in the company underscores his commitment to Flanigan’s Enterprises, a company known for its chain of seafood restaurants and package liquor stores. With a market capitalization of $50.85 million and consistent profitability over the last twelve months, the company shows promising fundamentals. Unlock more insights about BDL’s insider trading patterns and financial metrics with InvestingPro, which offers additional exclusive ProTips and detailed analysis.
In other recent news, Flanigan’s Enterprises Inc. held its Annual Meeting of Shareholders, where several significant proposals were voted on. The company reported a quorum of 57.19% with 1,062,878 shares represented out of the total 1,858,647 shares entitled to vote. All nominees for the Board of Directors were elected, with Jeffrey D. Kastner, Michael B. Flanigan, and Mary E. Bennett securing their positions until the 2028 Annual Meeting. Shareholders also approved the compensation of certain executive officers on an advisory basis, with a notable 975,808 votes in favor. Furthermore, it was decided that future advisory votes on executive compensation will occur every three years, in line with the majority’s preference. This decision aligns with the company’s recommendation and reflects the shareholders’ clear preference. The terms of office for other directors, including James G. Flanigan and others, will continue as before. The report of the meeting was signed by Jeffrey D. Kastner, the company’s CFO, General Counsel, and Secretary.
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