Stock Traders Purchase Large Volume of Bloomin’ Brands Call Options (NASDAQ:BLMN)


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Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the target of unusually large options trading on Wednesday. Stock traders acquired 5,104 call options on the stock. This represents an increase of approximately 2,736% compared to the typical volume of 180 call options.

NASDAQ:BLMN opened at $20.68 on Thursday. The company has a debt-to-equity ratio of 88.59, a current ratio of 0.36 and a quick ratio of 0.29. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -15.09 and a beta of 1.97. The company’s 50-day moving average is $18.78 and its two-hundred day moving average is $15.21. Bloomin’ Brands has a 1-year low of $4.54 and a 1-year high of $23.65.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, October 23rd. The restaurant operator reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.20. Bloomin’ Brands had a negative net margin of 3.45% and a negative return on equity of 39.30%. The business had revenue of $771.30 million for the quarter, compared to the consensus estimate of $752.87 million. During the same period in the previous year, the firm earned $0.10 EPS. The business’s revenue was down 20.2% on a year-over-year basis. As a group, equities analysts anticipate that Bloomin’ Brands will post -0.72 earnings per share for the current fiscal year.

In other news, Director Elizabeth A. Smith sold 250,000 shares of the stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $16.81, for a total value of $4,202,500.00. Also, Director Elizabeth A. Smith sold 150,000 shares of the stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $18.41, for a total value of $2,761,500.00. Company insiders own 4.39% of the company’s stock.

Large investors have recently bought and sold shares of the business. Scopus Asset Management L.P. bought a new stake in shares of Bloomin’ Brands during the third quarter worth $25,196,000. J. Goldman & Co LP bought a new position in Bloomin’ Brands in the third quarter valued at approximately $11,331,000. Arrowstreet Capital Limited Partnership grew its stake in Bloomin’ Brands by 31.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,333,674 shares of the restaurant operator’s stock valued at $35,635,000 after purchasing an additional 560,545 shares in the last quarter. Principal Financial Group Inc. grew its stake in Bloomin’ Brands by 57.6% in the second quarter. Principal Financial Group Inc. now owns 1,143,426 shares of the restaurant operator’s stock valued at $12,189,000 after purchasing an additional 417,712 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Bloomin’ Brands by 122.1% in the third quarter. Voloridge Investment Management LLC now owns 752,869 shares of the restaurant operator’s stock valued at $11,496,000 after purchasing an additional 413,824 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research lowered Bloomin’ Brands from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. upped their price objective on Bloomin’ Brands from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, December 14th. BMO Capital Markets upgraded Bloomin’ Brands from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $17.00 to $22.00 in a report on Monday, November 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Bloomin’ Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Finally, Morgan Stanley upped their price objective on Bloomin’ Brands from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.00.

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. 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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