Bloomin’ Brands, Inc. (NASDAQ:BLMN) Short Interest Down 10.9% in September

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

Bloomin’ Brands Stock Performance

BLMN stock traded up $0.40 during mid-day trading on Thursday, reaching $16.72. The company had a trading volume of 189,070 shares, compared to its average volume of 1,454,640. Bloomin’ Brands has a one year low of $15.14 and a one year high of $30.13. The stock’s 50-day simple moving average is $16.71 and its two-hundred day simple moving average is $20.14. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $1.45 billion, a P/E ratio of 25.50 and a beta of 2.04.

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

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend was Tuesday, August 20th. Bloomin’ Brands’s dividend payout ratio is currently 150.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BLMN. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Saturday, October 12th. UBS Group decreased their price objective on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley decreased their price objective on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.33.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently modified their holdings of BLMN. Deprince Race & Zollo Inc. bought a new stake in shares of Bloomin’ Brands during the second quarter valued at about $28,672,000. Victory Capital Management Inc. raised its position in Bloomin’ Brands by 29.6% in the second 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 in the last quarter. Millennium Management LLC raised its position in Bloomin’ Brands by 2,520.7% in the second 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 in the last quarter. Systematic Financial Management LP raised its position in Bloomin’ Brands by 76.5% in the second quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock worth $10,475,000 after acquiring an additional 236,037 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. raised its position in Bloomin’ Brands by 45.7% in the second quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock worth $8,802,000 after acquiring an additional 143,485 shares in the last quarter.

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.