Bloomin’ Brands Inc (NASDAQ:BLMN) Short Interest Up 14.6% in August
Bloomin’ Brands Inc (NASDAQ:BLMN) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 9,845,400 shares, an increase of 14.6% from the July 15th total of 8,589,400 shares. Approximately 11.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,990,000 shares, the short-interest ratio is currently 4.9 days.
A number of equities analysts have recently weighed in on BLMN shares. ValuEngine lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Zacks Investment Research raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Monday, July 15th. BMO Capital Markets lowered shares of Bloomin’ Brands from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $23.00 to $18.00 in a research report on Thursday, May 23rd. Loop Capital initiated coverage on shares of Bloomin’ Brands in a research report on Monday, July 22nd. They set a “buy” rating and a $22.00 price target for the company. Finally, Guggenheim upgraded shares of Bloomin’ Brands from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, May 24th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $21.36.
Shares of BLMN stock traded up $0.25 on Thursday, hitting $16.76. The stock had a trading volume of 157,937 shares, compared to its average volume of 1,821,809. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.06 and a beta of 0.23. The stock’s 50 day moving average is $16.91 and its 200-day moving average is $19.08. The company has a debt-to-equity ratio of 15.18, a quick ratio of 0.21 and a current ratio of 0.30. Bloomin’ Brands has a 52-week low of $15.12 and a 52-week high of $22.22.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 2.39%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 26.67%.
Several hedge funds have recently made changes to their positions in BLMN. LS Investment Advisors LLC purchased a new position in shares of Bloomin’ Brands in the second quarter valued at $56,000. New York State Teachers Retirement System purchased a new position in shares of Bloomin’ Brands in the first quarter valued at $70,000. Pearl River Capital LLC boosted its stake in shares of Bloomin’ Brands by 1,085.2% in the first quarter. Pearl River Capital LLC now owns 6,578 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 6,023 shares during the period. Advisor Group Inc. boosted its stake in Bloomin’ Brands by 35.7% during the 2nd quarter. Advisor Group Inc. now owns 7,144 shares of the restaurant operator’s stock valued at $135,000 after acquiring an additional 1,881 shares during the last quarter. Finally, Flinton Capital Management LLC bought a new position in Bloomin’ Brands during the 2nd quarter valued at $135,000. Institutional investors and hedge funds own 94.52% of the company’s stock.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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