Boothbay Fund Management LLC Takes Position in Bloomin' Brands Inc (BLMN)

Boothbay Fund Management LLC acquired a new position in shares of Bloomin' Brands Inc (NASDAQ:BLMN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,256 shares of the restaurant operator’s stock, valued at approximately $181,000.

Several other institutional investors also recently made changes to their positions in BLMN. Gotham Asset Management LLC acquired a new position in shares of Bloomin' Brands during the second quarter worth about $13,380,000. Koch Industries Inc. acquired a new position in Bloomin' Brands in the second quarter valued at approximately $547,000. Prudential Financial Inc. boosted its holdings in Bloomin' Brands by 94.8% in the second quarter. Prudential Financial Inc. now owns 1,124,340 shares of the restaurant operator’s stock valued at $23,870,000 after purchasing an additional 547,210 shares in the last quarter. Castleark Management LLC acquired a new position in Bloomin' Brands in the second quarter valued at approximately $9,699,000. Finally, Kestrel Investment Management Corp acquired a new position in Bloomin' Brands in the third quarter valued at approximately $8,026,000.

In other news, Chairman Elizabeth A. Smith sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $17.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chairman 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, CEO Elizabeth A. Smith sold 1,700 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,409,895. The disclosure for this sale can be found here. Insiders sold 167,797 shares of company stock valued at $3,144,784 over the last three months. Corporate insiders own 7.04% of the company’s stock.

Shares of Bloomin' Brands Inc (BLMN) opened at $21.28 on Thursday. The firm has a market capitalization of $1,946.78, a P/E ratio of 17.06, a PEG ratio of 1.28 and a beta of 0.65. Bloomin' Brands Inc has a fifty-two week low of $16.11 and a fifty-two week high of $22.47. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 31.17.

Bloomin' Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $948.90 million during the quarter, compared to analyst estimates of $944.30 million. Bloomin' Brands had a net margin of 1.93% and a return on equity of 94.30%. Bloomin' Brands’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. sell-side analysts predict that Bloomin' Brands Inc will post 1.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th were issued a $0.08 dividend. This is an increase from Bloomin' Brands’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, November 10th. Bloomin' Brands’s dividend payout ratio is presently 41.56%.

BLMN has been the subject of a number of research analyst reports. ValuEngine downgraded Bloomin' Brands from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Bank of America downgraded Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Wednesday, November 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price target on shares of Bloomin' Brands in a report on Thursday, August 31st. Credit Suisse Group lowered their price target on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Finally, Barclays lowered their price target on Bloomin' Brands from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.00.

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Bloomin' Brands Profile

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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