Short Interest in Bloomin’ Brands, Inc. (NASDAQ:BLMN) Rises By 5.9%

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 8,460,000 shares, a growth of 5.9% from the July 15th total of 7,990,000 shares. Approximately 10.2% of the shares of the company are sold short. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is currently 4.9 days.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $17.93 on Tuesday. Bloomin’ Brands has a twelve month low of $15.20 and a twelve month high of $30.13. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 3.12. The stock’s 50-day simple moving average is $18.54 and its 200 day simple moving average is $23.33. The firm has a market capitalization of $1.55 billion, a PE ratio of 28.02 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results 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). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, analysts anticipate that Bloomin’ Brands will post 2.37 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Tuesday, August 20th. Bloomin’ Brands’s payout ratio is 150.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BLMN shares. StockNews.com downgraded Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Morgan Stanley dropped their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets dropped their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup reduced their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.33.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its stake in shares of Bloomin’ Brands by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 26,763 shares of the restaurant operator’s stock valued at $753,000 after purchasing an additional 417 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Bloomin’ Brands by 5.2% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 13,686 shares of the restaurant operator’s stock worth $393,000 after acquiring an additional 671 shares during the last quarter. Rye Brook Capital LLC increased its position in Bloomin’ Brands by 0.3% in the 1st quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock valued at $7,104,000 after acquiring an additional 700 shares during the period. Watershed Asset Management L.L.C. raised its stake in shares of Bloomin’ Brands by 7.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 11,207 shares of the restaurant operator’s stock valued at $315,000 after acquiring an additional 756 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bloomin’ Brands by 4.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,267 shares of the restaurant operator’s stock worth $486,000 after purchasing an additional 776 shares during the period.

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.