Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) was the target of some unusual options trading on Thursday. Stock investors purchased 70,192 put options on the stock. This is an increase of approximately 5,275% compared to the average daily volume of 1,306 put options.
Hedge Funds Weigh In On Bloomin' Brands
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Bloomin' Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator's stock valued at $41,806,000 after buying an additional 147,895 shares during the period. Franklin Resources Inc. grew its position in Bloomin' Brands by 2.9% in the third quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator's stock worth $773,000 after acquiring an additional 1,392 shares during the period. Barclays PLC increased its stake in Bloomin' Brands by 29.4% during the third quarter. Barclays PLC now owns 219,080 shares of the restaurant operator's stock worth $3,621,000 after acquiring an additional 49,723 shares during the last quarter. XTX Topco Ltd purchased a new stake in Bloomin' Brands in the third quarter valued at $500,000. Finally, Stifel Financial Corp lifted its stake in shares of Bloomin' Brands by 22.9% in the 3rd quarter. Stifel Financial Corp now owns 19,186 shares of the restaurant operator's stock valued at $317,000 after purchasing an additional 3,574 shares during the last quarter.
Bloomin' Brands Price Performance
BLMN stock traded down $0.25 during midday trading on Thursday, reaching $11.96. The stock had a trading volume of 2,403,182 shares, compared to its average volume of 1,550,702. Bloomin' Brands has a 52-week low of $11.24 and a 52-week high of $30.13. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The company's fifty day simple moving average is $13.57 and its 200 day simple moving average is $16.18. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -108.72 and a beta of 1.95.
Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. Bloomin' Brands's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts predict that Bloomin' Brands will post 1.8 earnings per share for the current fiscal year.
Bloomin' Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 8.03%. Bloomin' Brands's payout ratio is -872.73%.
Analysts Set New Price Targets
Several brokerages recently weighed in on BLMN. JPMorgan Chase & Co. reduced their price target on Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Barclays decreased their target price on shares of Bloomin' Brands from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. StockNews.com upgraded shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on shares of Bloomin' Brands in a research report on Thursday, December 5th. They issued a "sell" rating and a $13.00 price objective for the company. Finally, Raymond James cut Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.09.
Get Our Latest Research Report on Bloomin' Brands
About Bloomin' Brands
(
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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.
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