Bloomin’ Brands Inc (NASDAQ:BLMN) Short Interest Update

Bloomin’ Brands Inc (NASDAQ:BLMN) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 9,845,400 shares, an increase of 14.6% from the June 30th total of 8,589,400 shares. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is currently 4.9 days. Currently, 11.9% of the company’s stock are sold short.

BLMN has been the topic of several research reports. ValuEngine downgraded Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Zacks Investment Research raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Monday, July 15th. Tigress Financial reissued a “buy” rating on shares of Bloomin’ Brands in a research report on Thursday, April 18th. MKM Partners initiated coverage on Bloomin’ Brands in a research report on Tuesday. They issued a “buy” rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Bloomin’ Brands from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Bloomin’ Brands currently has an average rating of “Hold” and a consensus target price of $21.36.

NASDAQ:BLMN traded down $0.30 during mid-day trading on Thursday, hitting $15.65. The company’s stock had a trading volume of 43,197 shares, compared to its average volume of 1,668,842. Bloomin’ Brands has a 1 year low of $15.94 and a 1 year high of $22.22. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 15.18. The company has a market capitalization of $1.45 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.10 and a beta of 0.23. The business’s fifty day moving average price is $17.64.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Bloomin’ Brands will post 1.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, August 9th. Bloomin’ Brands’s payout ratio is currently 26.67%.

Hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC purchased a new stake in shares of Bloomin’ Brands during the 2nd quarter worth about $56,000. Advisor Group Inc. raised its position in shares of Bloomin’ Brands by 72.0% during the 4th quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,353 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Bloomin’ Brands during the 1st quarter worth about $70,000. Pearl River Capital LLC raised its position in shares of Bloomin’ Brands by 1,085.2% during the 1st quarter. Pearl River Capital LLC now owns 6,578 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 6,023 shares during the last quarter. Finally, Flinton Capital Management LLC acquired a new position in shares of Bloomin’ Brands during the 2nd quarter worth about $135,000. 94.52% of the stock is currently owned by institutional investors and hedge funds.

Bloomin’ Brands Company 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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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