Paloma Partners Management Co Acquires Shares of 24,600 Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Paloma Partners Management Co acquired a new stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 24,600 shares of the restaurant operator’s stock, valued at approximately $407,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Erste Asset Management GmbH acquired a new position in Bloomin’ Brands in the 3rd quarter valued at $41,325,000. Verition Fund Management LLC raised its holdings in shares of Bloomin’ Brands by 43.3% during the 3rd quarter. Verition Fund Management LLC now owns 720,403 shares of the restaurant operator’s stock worth $11,908,000 after buying an additional 217,832 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Bloomin’ Brands during the 3rd quarter worth $233,000. Quantbot Technologies LP acquired a new position in shares of Bloomin’ Brands during the 3rd quarter worth $294,000. Finally, FMR LLC raised its holdings in shares of Bloomin’ Brands by 34.8% during the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after buying an additional 356,456 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. BMO Capital Markets lowered their price target on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Bank of America lowered their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Finally, Citigroup reduced their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Trading Down 0.6 %

NASDAQ BLMN opened at $12.92 on Thursday. The business’s 50-day moving average price is $15.19 and its two-hundred day moving average price is $17.38. Bloomin’ Brands, Inc. has a 12 month low of $12.26 and a 12 month high of $30.13. The firm has a market capitalization of $1.10 billion, a PE ratio of -117.45 and a beta of 1.95. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio is -872.73%.

About Bloomin’ Brands

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.