Bloomin’ Brands Target of Unusually Large Options Trading (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was the recipient of unusually large options trading activity on Friday. Traders purchased 36,783 put options on the stock. This represents an increase of approximately 5,431% compared to the average volume of 665 put options.

Bloomin’ Brands Trading Down 9.7 %

NASDAQ BLMN opened at $15.15 on Friday. Bloomin’ Brands has a twelve month low of $14.72 and a twelve month high of $30.13. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 58.27 and a beta of 2.04. The firm’s 50 day moving average price is $16.42 and its two-hundred day moving average price is $18.88.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. Equities analysts anticipate that Bloomin’ Brands will post 2.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BLMN. Morgan Stanley decreased their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. BMO Capital Markets decreased their price target 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. Barclays decreased their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. UBS Group decreased their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and a consensus price target of $21.33.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in shares of Bloomin’ Brands by 176.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 167,495 shares of the restaurant operator’s stock valued at $2,769,000 after purchasing an additional 106,804 shares during the last quarter. Factorial Partners LLC lifted its stake in shares of Bloomin’ Brands by 67.1% in the 3rd quarter. Factorial Partners LLC now owns 60,000 shares of the restaurant operator’s stock valued at $992,000 after purchasing an additional 24,100 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Bloomin’ Brands by 4.4% in the 3rd quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock valued at $23,327,000 after purchasing an additional 59,418 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at $26,000. Finally, Royce & Associates LP lifted its stake in shares of Bloomin’ Brands by 17.0% in the 3rd quarter. Royce & Associates LP now owns 508,688 shares of the restaurant operator’s stock valued at $8,409,000 after purchasing an additional 74,079 shares during the last quarter.

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.