Investors Purchase Large Volume of Bloomin’ Brands Put Options (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the target of some unusual options trading on Friday. Stock investors purchased 36,783 put options on the stock. This represents an increase of 5,431% compared to the average volume of 665 put options.

Bloomin’ Brands Trading Down 10.4 %

Shares of BLMN stock traded down $1.75 on Friday, reaching $15.03. 1,595,681 shares of the stock were exchanged, compared to its average volume of 1,469,059. 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 cap of $1.28 billion, a P/E ratio of 58.08 and a beta of 2.04. The firm has a 50 day moving average of $16.47 and a two-hundred day moving average of $18.96. Bloomin’ Brands has a 1-year low of $14.72 and a 1-year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last announced 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). Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that Bloomin’ Brands will post 2.07 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on BLMN shares. Citigroup dropped their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. BMO Capital Markets lowered their price target 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. Bank of America reduced their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and a consensus target price of $21.33.

Hedge Funds Weigh In On Bloomin’ Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. acquired a new stake in Bloomin’ Brands during the 2nd quarter valued at $28,672,000. Victory Capital Management Inc. boosted its position in Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after buying an additional 569,855 shares during the last quarter. Millennium Management LLC grew its stake in shares of Bloomin’ Brands by 2,520.7% during the second quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock valued at $9,009,000 after acquiring an additional 450,630 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Bloomin’ Brands by 76.5% during 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 during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Bloomin’ Brands by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after purchasing an additional 147,895 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.