Bloomin’ Brands (NASDAQ:BLMN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also recently commented on BLMN. Jefferies Group reiterated a “hold” rating and issued a $23.00 target price on shares of Bloomin’ Brands in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Barclays reiterated an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of Bloomin’ Brands in a research report on Tuesday, January 16th. Goldman Sachs reiterated a “sell” rating on shares of Bloomin’ Brands in a research report on Friday, January 19th. Finally, William Blair reiterated a “market perform” rating on shares of Bloomin’ Brands in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.78.
Shares of NASDAQ BLMN opened at $23.30 on Thursday. The stock has a market capitalization of $2,162.54, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.68 and a beta of 0.38. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 22.07. Bloomin’ Brands has a 52 week low of $16.11 and a 52 week high of $25.00.
Bloomin’ Brands announced that its Board of Directors has initiated a share buyback plan on Thursday, February 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In related news, EVP Michael Kappitt sold 19,444 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $23.75, for a total value of $461,795.00. Following the completion of the sale, the executive vice president now owns 29,437 shares of the company’s stock, valued at $699,128.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Scarlett sold 84,374 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $23.78, for a total transaction of $2,006,413.72. Following the completion of the sale, the executive vice president now directly owns 11,723 shares of the company’s stock, valued at approximately $278,772.94. The disclosure for this sale can be found here. Insiders sold 1,646,864 shares of company stock valued at $40,050,895 in the last three months. 7.47% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in BLMN. SG Americas Securities LLC boosted its stake in Bloomin’ Brands by 100.0% during the third quarter. SG Americas Securities LLC now owns 19,320 shares of the restaurant operator’s stock worth $340,000 after buying an additional 9,658 shares during the period. Legal & General Group Plc boosted its stake in Bloomin’ Brands by 7.7% during the third quarter. Legal & General Group Plc now owns 117,396 shares of the restaurant operator’s stock worth $2,069,000 after buying an additional 8,429 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Bloomin’ Brands by 4.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 899,641 shares of the restaurant operator’s stock worth $15,834,000 after buying an additional 34,203 shares during the period. Dimensional Fund Advisors LP boosted its stake in Bloomin’ Brands by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock worth $52,097,000 after buying an additional 23,110 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in Bloomin’ Brands during the third quarter worth about $181,000. 98.49% of the stock is owned by institutional investors.
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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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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