Great Lakes Advisors LLC Sells 46,120 Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN)

Great Lakes Advisors LLC decreased its holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,678 shares of the restaurant operator's stock after selling 46,120 shares during the quarter. Great Lakes Advisors LLC owned about 0.13% of Bloomin' Brands worth $1,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of Bloomin' Brands by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator's stock worth $773,000 after purchasing an additional 1,392 shares during the period. KBC Group NV increased its position in Bloomin' Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator's stock worth $56,000 after purchasing an additional 1,489 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Bloomin' Brands in the third quarter valued at approximately $26,000. Rhumbline Advisers grew its position in Bloomin' Brands by 1.3% in the fourth quarter. Rhumbline Advisers now owns 238,093 shares of the restaurant operator's stock valued at $2,907,000 after acquiring an additional 2,977 shares in the last quarter. Finally, Rye Brook Capital LLC grew its position in shares of Bloomin' Brands by 2.1% during the fourth quarter. Rye Brook Capital LLC now owns 167,700 shares of the restaurant operator's stock worth $2,048,000 after buying an additional 3,500 shares in the last quarter.

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Insider Buying and Selling at Bloomin' Brands

In other Bloomin' Brands news, EVP Patrick M. Hafner sold 9,555 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on BLMN. UBS Group cut their target price on Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Barclays set a $11.00 price target on Bloomin' Brands and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on Bloomin' Brands from $13.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Bank of America lowered Bloomin' Brands from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $18.00 to $13.00 in a report on Monday, January 27th. Finally, The Goldman Sachs Group reduced their price target on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $14.60.

Bloomin' Brands Stock Performance

Shares of NASDAQ BLMN traded up $0.35 during midday trading on Friday, hitting $8.55. 2,375,295 shares of the company's stock were exchanged, compared to its average volume of 1,727,140. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. Bloomin' Brands, Inc. has a 12 month low of $8.00 and a 12 month high of $29.10. The company's 50 day moving average price is $11.18 and its 200 day moving average price is $13.60. The firm has a market capitalization of $726.16 million, a PE ratio of -77.72 and a beta of 2.04.

Bloomin' Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.02%. Bloomin' Brands's dividend payout ratio (DPR) is presently -40.27%.

Bloomin' Brands Profile

Bloomin' Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.