Gladius Capital Management LP Acquires New Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Gladius Capital Management LP acquired a new stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,545 shares of the restaurant operator’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently added to or reduced their stakes in BLMN. Deprince Race & Zollo Inc. acquired a new stake in Bloomin’ Brands in the second quarter valued at approximately $28,672,000. Victory Capital Management Inc. boosted its position in Bloomin’ Brands by 29.6% in the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after buying an additional 569,855 shares in the last quarter. Millennium Management LLC boosted its position in Bloomin’ Brands by 2,520.7% in the second quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock valued at $9,009,000 after buying an additional 450,630 shares in the last quarter. Systematic Financial Management LP boosted its position in Bloomin’ Brands by 76.5% in the second quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after buying an additional 236,037 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Bloomin’ Brands by 6.2% in the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after buying an additional 147,895 shares in the last quarter.

Bloomin’ Brands Price Performance

Shares of NASDAQ BLMN opened at $13.20 on Monday. Bloomin’ Brands, Inc. has a twelve month low of $13.07 and a twelve month high of $30.13. The firm has a fifty day simple moving average of $16.05 and a 200 day simple moving average of $18.36. The company has a market capitalization of $1.12 billion, a PE ratio of -120.00 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.44 earnings per share. Bloomin’ Brands’s quarterly revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.73%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLMN. BMO Capital Markets cut their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Piper Sandler cut their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, Citigroup cut their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus price target of $19.70.

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. 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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.