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

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 8,410,000 shares, a decline of 10.9% from the September 15th total of 9,440,000 shares. Currently, 10.1% of the company’s stock are sold short. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 5.4 days.

Bloomin’ Brands Stock Performance

Shares of Bloomin’ Brands stock traded up $0.38 on Tuesday, hitting $15.83. The stock had a trading volume of 635,258 shares, compared to its average volume of 1,451,498. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 24.14 and a beta of 2.04. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. Bloomin’ Brands has a 52-week low of $15.14 and a 52-week high of $30.13. The company’s 50 day moving average price is $16.74 and its 200 day moving average price is $20.25.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. On average, research analysts anticipate that Bloomin’ Brands will post 2.08 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.06%. Bloomin’ Brands’s dividend payout ratio (DPR) is 150.00%.

Hedge Funds Weigh In On Bloomin’ Brands

A number of institutional investors have recently made changes to their positions in BLMN. Creative Planning acquired a new position in Bloomin’ Brands in the 3rd quarter valued at about $219,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bloomin’ Brands in the second quarter valued at approximately $111,000. Sanctuary Advisors LLC purchased a new position in shares of Bloomin’ Brands during the second quarter valued at approximately $351,000. Dana Investment Advisors Inc. lifted its stake in shares of Bloomin’ Brands by 28.7% during the second quarter. Dana Investment Advisors Inc. now owns 70,666 shares of the restaurant operator’s stock valued at $1,359,000 after buying an additional 15,756 shares during the period. Finally, Aurora Investment Counsel boosted its position in Bloomin’ Brands by 52.7% during the second quarter. Aurora Investment Counsel now owns 20,815 shares of the restaurant operator’s stock worth $400,000 after acquiring an additional 7,188 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. UBS Group reduced their price objective on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Barclays lowered their target price on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley cut their price target on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Saturday. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Bloomin’ Brands has an average rating of “Hold” and an average price target of $22.33.

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.