Bloomin’ Brands Target of Unusually Large Options Trading (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the target of some unusual options trading on Thursday. Investors acquired 70,192 put options on the stock. This represents an increase of approximately 5,275% compared to the average daily volume of 1,306 put options.

Bloomin’ Brands Stock Up 2.6 %

Shares of Bloomin’ Brands stock traded up $0.32 on Thursday, hitting $12.53. 278,445 shares of the company traded hands, compared to its average volume of 1,550,702. 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 has a 12-month low of $11.24 and a 12-month high of $30.13. The company has a 50-day moving average price of $13.66 and a 200 day moving average price of $16.21. The company has a market cap of $1.06 billion, a PE ratio of -113.90 and a beta of 1.95.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Sell-side analysts predict that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 7.66%. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BLMN shares. Barclays reduced their price objective on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective for the company. Piper Sandler reduced their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Bank of America decreased their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.09.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Erste Asset Management GmbH bought a new stake in Bloomin’ Brands during the third quarter worth approximately $41,325,000. Deprince Race & Zollo Inc. acquired a new position in Bloomin’ Brands in the 2nd quarter valued at $28,672,000. Victory Capital Management Inc. raised its holdings in Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after acquiring an additional 569,855 shares during the period. Millennium Management LLC raised its holdings in Bloomin’ Brands by 2,520.7% in the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after acquiring an additional 450,630 shares during the period. Finally, FMR LLC lifted its position in 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 acquiring an additional 356,456 shares during the last quarter.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.