Nationwide Fund Advisors boosted its stake in Bloomin’ Brands Inc. (NASDAQ:BLMN) by 80.9% during the second quarter, Holdings Channel reports. The firm owned 320,324 shares of the company’s stock after buying an additional 143,243 shares during the period. Nationwide Fund Advisors owned 0.28% of Bloomin’ Brands worth $5,724,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in BLMN. Teachers Advisors Inc. boosted its stake in Bloomin’ Brands by 1.5% in the first quarter. Teachers Advisors Inc. now owns 649,833 shares of the company’s stock worth $10,963,000 after buying an additional 9,400 shares during the last quarter. Prudential Financial Inc. boosted its stake in Bloomin’ Brands by 27.5% in the first quarter. Prudential Financial Inc. now owns 1,934,760 shares of the company’s stock worth $32,639,000 after buying an additional 417,160 shares during the last quarter. BlackRock Inc. boosted its stake in Bloomin’ Brands by 52.1% in the first quarter. BlackRock Inc. now owns 16,180 shares of the company’s stock worth $273,000 after buying an additional 5,543 shares during the last quarter. BlackRock Group LTD boosted its stake in Bloomin’ Brands by 34.6% in the first quarter. BlackRock Group LTD now owns 83,378 shares of the company’s stock worth $1,406,000 after buying an additional 21,424 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Bloomin’ Brands by 250.4% in the first quarter. JPMorgan Chase & Co. now owns 961,840 shares of the company’s stock worth $16,226,000 after buying an additional 687,319 shares during the last quarter. Hedge funds and other institutional investors own 93.55% of the company’s stock.
Bloomin’ Brands Inc. (NASDAQ:BLMN) traded down 1.86% during trading on Wednesday, hitting $17.39. The company had a trading volume of 290,849 shares. Bloomin’ Brands Inc. has a 12-month low of $14.91 and a 12-month high of $19.89. The firm has a 50-day moving average of $18.89 and a 200 day moving average of $18.39. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 35.93 and a beta of 0.80.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. Bloomin’ Brands had a return on equity of 38.79% and a net margin of 1.38%. Bloomin’ Brands’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, equities research analysts forecast that Bloomin’ Brands Inc. will post $1.34 earnings per share for the current year.
A number of equities research analysts have issued reports on BLMN shares. TheStreet cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. Zacks Investment Research upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, June 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 target price on shares of Bloomin’ Brands in a research note on Tuesday, August 2nd. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and issued a $21.00 target price on shares of Bloomin’ Brands in a research note on Friday, July 15th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Bloomin’ Brands presently has a consensus rating of “Buy” and a consensus target price of $20.92.
In other Bloomin’ Brands news, Director Chris Thomas Sullivan sold 53,850 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $19.01, for a total value of $1,023,688.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Kappitt sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $19.50, for a total value of $195,000.00. The disclosure for this sale can be found here. 6.68% of the stock is owned by corporate insiders.
About Bloomin’ Brands
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.
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