Granite Point Capital Management L.P. Acquires Shares of 45,900 Bloomin' Brands Inc (BLMN)

Granite Point Capital Management L.P. purchased a new position in Bloomin' Brands Inc (NASDAQ:BLMN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 45,900 shares of the restaurant operator’s stock, valued at approximately $808,000. Granite Point Capital Management L.P. owned about 0.05% of Bloomin' Brands at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of Bloomin' Brands by 0.9% in the second quarter. Stifel Financial Corp now owns 13,997 shares of the restaurant operator’s stock worth $297,000 after acquiring an additional 126 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Bloomin' Brands by 4.8% in the second quarter. SG Americas Securities LLC now owns 9,662 shares of the restaurant operator’s stock worth $205,000 after acquiring an additional 439 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bloomin' Brands by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,144 shares of the restaurant operator’s stock worth $109,000 after acquiring an additional 476 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Bloomin' Brands by 0.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 85,832 shares of the restaurant operator’s stock worth $1,822,000 after acquiring an additional 515 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Bloomin' Brands by 6.1% in the second quarter. Public Employees Retirement System of Ohio now owns 9,333 shares of the restaurant operator’s stock worth $198,000 after acquiring an additional 539 shares during the last quarter.

In other Bloomin' Brands news, CEO Elizabeth A. Smith sold 1,700 shares of Bloomin' Brands stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total value of $28,900.00. Following the sale, the chief executive officer now owns 82,935 shares in the company, valued at $1,409,895. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher W. Brandt sold 25,000 shares of Bloomin' Brands stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $20.47, for a total value of $511,750.00. Following the completion of the sale, the executive vice president now owns 4,416 shares in the company, valued at approximately $90,395.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,700 shares of company stock worth $2,240,650. 7.04% of the stock is currently owned by company insiders.

Bloomin' Brands Inc (NASDAQ BLMN) opened at $22.42 on Wednesday. Bloomin' Brands Inc has a 1 year low of $16.11 and a 1 year high of $22.47. The company has a market capitalization of $2,021.62, a P/E ratio of 17.72, a P/E/G ratio of 1.33 and a beta of 0.65. The company has a debt-to-equity ratio of 31.17, a quick ratio of 0.29 and a current ratio of 0.36.

Bloomin' Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Friday, November 3rd. The restaurant operator reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). Bloomin' Brands had a return on equity of 94.30% and a net margin of 1.93%. The company had revenue of $948.90 million for the quarter, compared to analysts’ expectations of $944.30 million. During the same quarter in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. analysts forecast that Bloomin' Brands Inc will post 1.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 13th were given a dividend of $0.08 per share. This is an increase from Bloomin' Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.43%. Bloomin' Brands’s dividend payout ratio (DPR) is presently 41.56%.

A number of brokerages have recently issued reports on BLMN. Bank of America lowered Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Wednesday, November 22nd. Barclays lowered their price target on Bloomin' Brands from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 18th. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price target on shares of Bloomin' Brands in a research note on Thursday, October 12th. Zacks Investment Research lowered Bloomin' Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, ValuEngine lowered Bloomin' Brands from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.00.

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About Bloomin' Brands

Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.

Institutional Ownership by Quarter for Bloomin' Brands (NASDAQ:BLMN)

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