Bloomin’ Brands, Inc. (NASDAQ:BLMN) Sees Significant Decrease in Short Interest

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 8,410,000 shares, a decrease of 10.9% from the September 15th total of 9,440,000 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 5.4 days. Currently, 10.1% of the shares of the stock are sold short.

Bloomin’ Brands Trading Up 3.4 %

Shares of BLMN traded up $0.54 during trading hours on Wednesday, hitting $16.32. The company had a trading volume of 2,910,463 shares, compared to its average volume of 1,460,967. Bloomin’ Brands has a 52-week low of $15.14 and a 52-week high of $30.13. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The stock’s 50 day moving average price is $16.72 and its 200 day moving average price is $20.16. The firm has a market cap of $1.41 billion, a P/E ratio of 25.23 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.07). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, research analysts predict that Bloomin’ Brands will post 2.08 EPS for the current year.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were issued a $0.24 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.96 annualized dividend and a yield of 5.88%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 150.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BMO Capital Markets decreased their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley dropped their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Barclays decreased their price target on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup cut their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bloomin’ Brands currently has a consensus rating of “Hold” and an average target price of $22.33.

Institutional Investors Weigh In On Bloomin’ Brands

Several hedge funds have recently made changes to their positions in the company. Deprince Race & Zollo Inc. purchased a new position in shares of Bloomin’ Brands in the second quarter worth $28,672,000. Victory Capital Management Inc. raised its position in Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after buying an additional 569,855 shares during the last quarter. Millennium Management LLC lifted its stake in Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock valued at $9,009,000 after acquiring an additional 450,630 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Bloomin’ Brands by 76.5% during the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after acquiring an additional 236,037 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. grew its stake in shares of Bloomin’ Brands by 45.7% in the second quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock worth $8,802,000 after acquiring an additional 143,485 shares during the period.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.