AlphaQuest LLC Purchases 12,057 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

AlphaQuest LLC increased its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 63,457.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,076 shares of the restaurant operator’s stock after purchasing an additional 12,057 shares during the period. AlphaQuest LLC’s holdings in Bloomin’ Brands were worth $147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Erste Asset Management GmbH bought a new stake in Bloomin’ Brands in the third quarter valued at $41,325,000. FMR LLC grew its position in Bloomin’ Brands by 34.8% in the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after acquiring an additional 356,456 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in Bloomin’ Brands by 58.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock valued at $11,432,000 after acquiring an additional 254,570 shares during the period. Raymond James Financial Inc. bought a new stake in Bloomin’ Brands in the fourth quarter valued at $2,882,000. Finally, Verition Fund Management LLC grew its position in Bloomin’ Brands by 43.3% in the third quarter. Verition Fund Management LLC now owns 720,403 shares of the restaurant operator’s stock valued at $11,908,000 after acquiring an additional 217,832 shares during the period.

Bloomin’ Brands Trading Down 4.3 %

Shares of BLMN opened at $8.18 on Tuesday. 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, Inc. has a 12-month low of $8.00 and a 12-month high of $29.10. The firm has a market capitalization of $694.74 million, a PE ratio of -74.36 and a beta of 2.04. The stock’s fifty day simple moving average is $11.09 and its 200-day simple moving average is $13.50.

Bloomin’ Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.33%. The ex-dividend date of this dividend is Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -40.27%.

Insider Activity

In other news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLMN. JPMorgan Chase & Co. lowered their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Barclays set a $11.00 price target on Bloomin’ Brands and gave the company an “equal weight” rating in a research report on Thursday, February 27th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, March 7th. UBS Group decreased their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, BMO Capital Markets decreased their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and an average target price of $14.60.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.