Brinker International, Inc. (NYSE:EAT) Sees Significant Decrease in Short Interest

Brinker International, Inc. (NYSE:EAT) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,850,000 shares, a decrease of 6.4% from the March 15th total of 6,250,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 4.6 days. Approximately 13.5% of the shares of the company are sold short.

Insider Buying and Selling

In related news, CFO Joseph G. Taylor sold 24,163 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the completion of the sale, the chief financial officer now owns 56,661 shares in the company, valued at approximately $2,548,045.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brinker International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC raised its position in Brinker International by 64,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 648 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Brinker International by 3,611.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 650 shares during the last quarter. State of Wyoming acquired a new position in Brinker International during the second quarter worth about $27,000. Advisors Asset Management Inc. acquired a new position in Brinker International during the first quarter worth about $32,000. Finally, Signaturefd LLC raised its position in Brinker International by 68.9% during the third quarter. Signaturefd LLC now owns 946 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 386 shares during the last quarter.

Wall Street Analysts Forecast Growth

EAT has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Brinker International from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 1st. Barclays upped their price objective on shares of Brinker International from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 3rd. Jefferies Financial Group upped their price objective on shares of Brinker International from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Brinker International from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley increased their price target on shares of Brinker International from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Brinker International currently has an average rating of “Hold” and a consensus target price of $43.36.

Brinker International Stock Down 2.7 %

Shares of EAT opened at $44.06 on Thursday. The company has a market capitalization of $1.95 billion, a PE ratio of 12.92, a P/E/G ratio of 0.73 and a beta of 2.46. Brinker International has a 52-week low of $28.23 and a 52-week high of $51.72. The company has a 50-day simple moving average of $46.84 and a 200-day simple moving average of $40.79.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. On average, research analysts anticipate that Brinker International will post 3.71 EPS for the current year.

About Brinker International

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.