Convergence Investment Partners LLC Has $1.19 Million Stake in Bloomin' Brands Inc (BLMN)

Convergence Investment Partners LLC trimmed its stake in shares of Bloomin' Brands Inc (NASDAQ:BLMN) by 21.2% in the fourth quarter, Holdings Channel reports. The fund owned 55,808 shares of the restaurant operator’s stock after selling 15,051 shares during the quarter. Convergence Investment Partners LLC’s holdings in Bloomin' Brands were worth $1,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jana Partners LLC bought a new position in shares of Bloomin' Brands during the third quarter worth about $73,480,000. Stevens Capital Management LP raised its position in shares of Bloomin' Brands by 57.7% during the third quarter. Stevens Capital Management LP now owns 18,849 shares of the restaurant operator’s stock worth $332,000 after acquiring an additional 6,900 shares during the last quarter. Numeric Investors LLC bought a new position in shares of Bloomin' Brands during the second quarter worth about $4,573,000. Segall Bryant & Hamill LLC raised its position in shares of Bloomin' Brands by 13.9% during the third quarter. Segall Bryant & Hamill LLC now owns 187,652 shares of the restaurant operator’s stock worth $3,303,000 after acquiring an additional 22,906 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Bloomin' Brands during the third quarter worth about $620,000.

Shares of Bloomin' Brands Inc (NASDAQ BLMN) opened at $21.96 on Friday. Bloomin' Brands Inc has a one year low of $16.11 and a one year high of $22.96. The company has a market capitalization of $2,002.45, a P/E ratio of 28.52, a P/E/G ratio of 1.65 and a beta of 0.64. The company has a debt-to-equity ratio of 31.17, a quick ratio of 0.29 and a current ratio of 0.36.

Bloomin' Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 3rd. The restaurant operator reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). Bloomin' Brands had a return on equity of 94.30% and a net margin of 1.93%. The business had revenue of $948.90 million for the quarter, compared to analyst estimates of $944.30 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. analysts forecast that Bloomin' Brands Inc will post 1.33 EPS for the current fiscal year.

In other Bloomin' Brands news, CEO Elizabeth A. Smith sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total value of $28,900.00. Following the completion of the sale, the chief executive officer now owns 82,935 shares of the company’s stock, valued at $1,409,895. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Peter Schmidt sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $22.50, for a total value of $78,750.00. Following the completion of the sale, the executive vice president now directly owns 7,916 shares of the company’s stock, valued at approximately $178,110. The disclosure for this sale can be found here. Insiders have sold 555,378 shares of company stock valued at $11,209,849 in the last ninety days. 7.04% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on BLMN. Zacks Investment Research upgraded Bloomin' Brands from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub downgraded Bloomin' Brands from a “hold” rating to a “sell” rating in a research report on Friday. Barclays restated an “overweight” rating and set a $25.00 price objective (up from $21.00) on shares of Bloomin' Brands in a research report on Tuesday. Jefferies Group reaffirmed a “hold” rating and set a $23.00 target price on shares of Bloomin' Brands in a research note on Friday, December 22nd. Finally, Citigroup cut Bloomin' Brands to a “market perform” rating in a research note on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.64.

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About Bloomin' Brands

Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.

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Institutional Ownership by Quarter for Bloomin' Brands (NASDAQ:BLMN)

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