Short Interest in Brinker International, Inc. (NYSE:EAT) Expands By 26.2%

Brinker International, Inc. (NYSE:EAT) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 7,380,000 shares, an increase of 26.2% from the March 31st total of 5,850,000 shares. Based on an average trading volume of 1,320,000 shares, the short-interest ratio is presently 5.6 days. Approximately 17.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EAT. Gordon Haskett upgraded shares of Brinker International from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, January 16th. Morgan Stanley lifted their target price on Brinker International from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their target price on Brinker International from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com cut shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Evercore ISI boosted their target price on shares of Brinker International from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.81.

Insider Buying and Selling at Brinker International

In related news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.97, for a total value of $1,086,610.11. Following the completion of the transaction, the chief financial officer now directly owns 56,661 shares in the company, valued at $2,548,045.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brinker International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in shares of Brinker International by 1.3% during the fourth quarter. Victory Capital Management Inc. now owns 17,318 shares of the restaurant operator’s stock worth $748,000 after acquiring an additional 230 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Brinker International by 12.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,070 shares of the restaurant operator’s stock valued at $89,000 after buying an additional 235 shares during the period. Signaturefd LLC lifted its stake in shares of Brinker International by 68.9% during the third quarter. Signaturefd LLC now owns 946 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 386 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Brinker International by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,408 shares of the restaurant operator’s stock worth $424,000 after purchasing an additional 487 shares during the period. Finally, Bogart Wealth LLC increased its position in shares of Brinker International by 100.0% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 500 shares in the last quarter.

Brinker International Price Performance

Shares of EAT traded up $3.94 during mid-day trading on Tuesday, reaching $53.60. 3,761,864 shares of the company’s stock traded hands, compared to its average volume of 1,322,421. The stock has a market cap of $2.37 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.79 and a beta of 2.46. The stock’s 50-day moving average is $47.27 and its two-hundred day moving average is $41.82. Brinker International has a 12 month low of $28.23 and a 12 month high of $54.68.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. Research analysts predict that Brinker International will post 3.71 earnings per share for the current year.

About Brinker International

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.