Bloomin’ Brands (NASDAQ:BLMN) saw unusually large options trading activity on Monday. Traders acquired 1,051 put options on the stock. This represents an increase of 1,921% compared to the average volume of 52 put options.
In other news, CEO Elizabeth A. Smith sold 212,791 shares of the stock in a transaction on Friday, April 6th. The shares were sold at an average price of $24.78, for a total transaction of $5,272,960.98. Following the completion of the sale, the chief executive officer now owns 292,180 shares of the company’s stock, valued at $7,240,220.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David J. Deno sold 16,956 shares of the stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $24.50, for a total transaction of $415,422.00. Following the sale, the executive vice president now directly owns 65,135 shares of the company’s stock, valued at approximately $1,595,807.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,872,077 shares of company stock worth $45,591,139. Company insiders own 7.47% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC grew its position in Bloomin’ Brands by 1.9% in the first quarter. Earnest Partners LLC now owns 5,369,962 shares of the restaurant operator’s stock valued at $130,383,000 after purchasing an additional 101,143 shares in the last quarter. LSV Asset Management grew its position in Bloomin’ Brands by 15.9% in the fourth quarter. LSV Asset Management now owns 3,517,296 shares of the restaurant operator’s stock valued at $75,059,000 after purchasing an additional 482,900 shares in the last quarter. Millennium Management LLC grew its position in Bloomin’ Brands by 182.2% in the first quarter. Millennium Management LLC now owns 2,462,139 shares of the restaurant operator’s stock valued at $59,781,000 after purchasing an additional 1,589,579 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Bloomin’ Brands in the first quarter valued at $58,763,000. Finally, Fuller & Thaler Asset Management Inc. grew its position in Bloomin’ Brands by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,277,021 shares of the restaurant operator’s stock valued at $48,592,000 after purchasing an additional 6,128 shares in the last quarter. 95.60% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on BLMN. BidaskClub raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. ValuEngine downgraded shares of Bloomin’ Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 12th. JPMorgan Chase increased their price objective on shares of Bloomin’ Brands from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 1st. Barclays increased their price objective on shares of Bloomin’ Brands from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, April 27th. Finally, Deutsche Bank raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.88.
Bloomin’ Brands stock opened at $21.27 on Wednesday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.55 and a beta of 0.35. Bloomin’ Brands has a 1-year low of $16.11 and a 1-year high of $25.00. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 10.30.
Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Thursday, April 26th. The restaurant operator reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Bloomin’ Brands had a net margin of 2.91% and a return on equity of 198.45%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. research analysts anticipate that Bloomin’ Brands will post 1.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Monday, May 7th were given a $0.09 dividend. The ex-dividend date was Friday, May 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.69%. This is an increase from Bloomin’ Brands’s previous quarterly dividend of $0.06. Bloomin’ Brands’s dividend payout ratio (DPR) is 26.47%.
Bloomin’ Brands declared that its board has authorized a share repurchase plan on Thursday, February 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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