Envestnet Asset Management Inc. Grows Stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Envestnet Asset Management Inc. grew its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 85.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 69,632 shares of the restaurant operator’s stock after buying an additional 32,072 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Bloomin’ Brands worth $499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Bloomin’ Brands by 28.9% in the 1st quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator’s stock worth $45,000 after buying an additional 1,414 shares during the period. Headlands Technologies LLC purchased a new position in shares of Bloomin’ Brands in the 4th quarter valued at approximately $27,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bloomin’ Brands in the 4th quarter valued at approximately $32,000. State of Wyoming lifted its stake in shares of Bloomin’ Brands by 99.5% in the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator’s stock valued at $126,000 after purchasing an additional 5,146 shares during the period. Finally, FORA Capital LLC lifted its stake in shares of Bloomin’ Brands by 42.8% in the 4th quarter. FORA Capital LLC now owns 20,165 shares of the restaurant operator’s stock valued at $246,000 after purchasing an additional 6,040 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BLMN shares. Morgan Stanley raised their target price on Bloomin’ Brands from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Barclays raised their target price on Bloomin’ Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. UBS Group lowered their target price on Bloomin’ Brands from $13.00 to $8.50 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. raised their target price on Bloomin’ Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.75.

Bloomin’ Brands Stock Down 0.1%

Shares of NASDAQ:BLMN opened at $8.95 on Wednesday. The stock has a fifty day simple moving average of $9.06 and a two-hundred day simple moving average of $9.14. The stock has a market capitalization of $760.12 million, a price-to-earnings ratio of -298.23 and a beta of 1.32. Bloomin’ Brands, Inc. has a 12-month low of $6.09 and a 12-month high of $18.72. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 2.38.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a positive return on equity of 55.08% and a negative net margin of 0.05%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, research analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.