Bloomin’ Brands, Inc. (NASDAQ:BLMN) Short Interest Down 30.2% in March

Bloomin’ Brands, Inc. (NASDAQ:BLMN) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 7,360,000 shares, a drop of 30.2% from the February 28th total of 10,540,000 shares. Based on an average daily volume of 2,340,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 8.9% of the company’s stock are short sold.

Bloomin’ Brands Price Performance

NASDAQ:BLMN opened at $7.41 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The firm has a fifty day simple moving average of $10.44 and a 200 day simple moving average of $12.96. Bloomin’ Brands has a 1-year low of $7.37 and a 1-year high of $29.10. The stock has a market capitalization of $629.34 million, a PE ratio of -67.36 and a beta of 2.04.

Bloomin’ Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 8.10%. Bloomin’ Brands’s dividend payout ratio is presently -40.27%.

Wall Street Analyst Weigh In

BLMN has been the subject of a number of research reports. BMO Capital Markets lowered their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. UBS Group decreased their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. Finally, Barclays set a $11.00 price objective on shares of Bloomin’ Brands and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Insider Transactions at Bloomin’ Brands

In other news, EVP Patrick M. Hafner sold 9,555 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloomin’ Brands

Hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new position in Bloomin’ Brands during the third quarter worth approximately $41,325,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Bloomin’ Brands by 8,666.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator’s stock worth $19,148,000 after acquiring an additional 1,550,364 shares during the period. American Century Companies Inc. increased its holdings in shares of Bloomin’ Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after acquiring an additional 1,522,370 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Bloomin’ Brands by 385.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock valued at $22,187,000 after acquiring an additional 1,442,964 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Bloomin’ Brands by 483.0% during the 4th quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator’s stock valued at $14,965,000 after purchasing an additional 1,015,372 shares during the last quarter.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.