Easterly Investment Partners LLC Has $11.18 Million Position in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Easterly Investment Partners LLC raised its stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 14.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 676,157 shares of the restaurant operator's stock after acquiring an additional 87,293 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.80% of Bloomin' Brands worth $11,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its holdings in Bloomin' Brands by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator's stock valued at $2,179,000 after buying an additional 1,017 shares during the last quarter. Duality Advisers LP bought a new position in Bloomin' Brands in the 1st quarter valued at approximately $225,000. Heartland Advisors Inc. raised its holdings in Bloomin' Brands by 1.5% in the 1st quarter. Heartland Advisors Inc. now owns 249,477 shares of the restaurant operator's stock valued at $7,155,000 after buying an additional 3,794 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Bloomin' Brands in the 1st quarter valued at approximately $1,285,000. Finally, Sei Investments Co. raised its holdings in Bloomin' Brands by 6.5% in the 1st quarter. Sei Investments Co. now owns 200,446 shares of the restaurant operator's stock valued at $5,749,000 after buying an additional 12,192 shares during the last quarter.

Bloomin' Brands Trading Down 9.7 %

Shares of BLMN stock traded down $1.63 during trading hours on Friday, hitting $15.15. 5,142,342 shares of the company were exchanged, compared to its average volume of 1,485,407. The firm has a market cap of $1.29 billion, a P/E ratio of 58.27 and a beta of 2.04. Bloomin' Brands, Inc. has a fifty-two week low of $14.72 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35. The company has a 50 day simple moving average of $16.47 and a two-hundred day simple moving average of $18.96.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly 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). Bloomin' Brands had a net margin of 0.70% and a return on equity of 61.90%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.74 EPS. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts anticipate that Bloomin' Brands, Inc. will post 2.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a report on Wednesday. Barclays lowered their price target on shares of Bloomin' Brands from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. Morgan Stanley lowered their price target on shares of Bloomin' Brands from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday, July 16th. UBS Group lowered their price target on shares of Bloomin' Brands from $26.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Finally, Citigroup lowered their price target on shares of Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.33.

Bloomin' Brands 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.