State of Tennessee Treasury Department decreased its position in Bloomin’ Brands Inc (NASDAQ:BLMN) by 63.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,985 shares of the restaurant operator’s stock after selling 51,140 shares during the period. State of Tennessee Treasury Department’s holdings in Bloomin’ Brands were worth $309,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Bridgecreek Investment Management LLC bought a new stake in Bloomin’ Brands during the 2nd quarter worth approximately $1,274,000. Ensign Peak Advisors Inc boosted its position in Bloomin’ Brands by 35.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 168,865 shares of the restaurant operator’s stock valued at $1,800,000 after buying an additional 44,565 shares during the last quarter. Bank of Montreal Can boosted its position in Bloomin’ Brands by 1,068.6% in the 2nd quarter. Bank of Montreal Can now owns 9,501 shares of the restaurant operator’s stock valued at $92,000 after buying an additional 8,688 shares during the last quarter. American International Group Inc. boosted its position in Bloomin’ Brands by 3.5% in the 2nd quarter. American International Group Inc. now owns 61,917 shares of the restaurant operator’s stock valued at $660,000 after buying an additional 2,067 shares during the last quarter. Finally, SSI Investment Management LLC bought a new position in Bloomin’ Brands in the 2nd quarter valued at $161,000. Institutional investors own 89.20% of the company’s stock.
In other Bloomin’ Brands news, CEO David J. Deno bought 12,000 shares of Bloomin’ Brands stock in a transaction dated Wednesday, July 1st. The stock was bought at an average cost of $10.00 per share, with a total value of $120,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 114,554 shares in the company, valued at approximately $1,145,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.39% of the company’s stock.
A number of analysts have recently commented on the company. JPMorgan Chase & Co. raised Bloomin’ Brands from a “neutral” rating to an “overweight” rating and upped their price target for the company from $15.00 to $16.00 in a research note on Monday, July 27th. Jefferies Financial Group reissued a “buy” rating on shares of Bloomin’ Brands in a research note on Wednesday, July 8th. Credit Suisse Group started coverage on Bloomin’ Brands in a research note on Thursday, July 9th. They set a “neutral” rating and a $12.00 target price for the company. Gordon Haskett cut Bloomin’ Brands from a “buy” rating to a “hold” rating and lowered their target price for the stock from $14.00 to $12.00 in a research note on Wednesday, July 1st. Finally, Deutsche Bank raised Bloomin’ Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $15.00 to $20.00 in a research report on Tuesday, September 1st. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.59.
NASDAQ:BLMN opened at $16.76 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.33 and a debt-to-equity ratio of 40.36. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -15.81 and a beta of 1.85. The firm has a fifty day simple moving average of $13.54 and a two-hundred day simple moving average of $11.31. Bloomin’ Brands Inc has a 12 month low of $4.54 and a 12 month high of $24.29.
Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Friday, July 24th. The restaurant operator reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.41. The business had revenue of $578.50 million during the quarter, compared to analysts’ expectations of $591.05 million. Bloomin’ Brands had a negative net margin of 2.51% and a negative return on equity of 10.37%. The business’s quarterly revenue was down 43.4% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. Equities analysts predict that Bloomin’ Brands Inc will post -0.94 earnings per share for the current fiscal year.
Bloomin’ Brands Company Profile
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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