SHORT INTEREST UPDATE

Looking at the table below, it is clear that there has been a high level of covering in the restaurant space.

I would call out the following moves as noteworthy in our table:

  • Short covering is driving CMG and CAKE higher over recent weeks
  • MCD and YUM have low short interest but the level is slowly building
  • DRI, EAT, and BOBE have seen short interest grow over the past two months of reported data
  • DIN’s short interest has declined markedly following their debt refinancing and strong 3Q performance

SHORT INTEREST UPDATE - restaurant short interest

Howard Penney

Managing Director