Bayesian Capital Management LP Purchases Shares of 7,649 Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bayesian Capital Management LP purchased a new stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,649 shares of the restaurant operator’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. SummerHaven Investment Management LLC lifted its holdings in shares of Bloomin’ Brands by 1.6% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,763 shares of the restaurant operator’s stock valued at $753,000 after purchasing an additional 417 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Bloomin’ Brands by 5.2% during the first quarter. Nations Financial Group Inc. IA ADV now owns 13,686 shares of the restaurant operator’s stock valued at $393,000 after buying an additional 671 shares during the period. Rye Brook Capital LLC lifted its stake in shares of Bloomin’ Brands by 0.3% during the first quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock valued at $7,104,000 after buying an additional 700 shares during the period. Watershed Asset Management L.L.C. lifted its stake in shares of Bloomin’ Brands by 7.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 11,207 shares of the restaurant operator’s stock valued at $315,000 after buying an additional 756 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bloomin’ Brands by 4.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,267 shares of the restaurant operator’s stock valued at $486,000 after buying an additional 776 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BLMN shares. JPMorgan Chase & Co. reduced their price objective on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. UBS Group reduced their price objective on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Barclays reduced their price objective on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. BMO Capital Markets cut their price target on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 8th. Finally, Morgan Stanley cut 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 note on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.56.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $20.05 on Friday. Bloomin’ Brands, Inc. has a 52-week low of $16.20 and a 52-week high of $30.13. The firm has a fifty day moving average of $19.42 and a 200-day moving average of $24.12. The firm has a market capitalization of $1.73 billion, a P/E ratio of 31.33 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 3.12.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 65.73% and a net margin of 1.56%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $0.98 EPS. Bloomin’ Brands’s revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that Bloomin’ Brands, Inc. will post 2.39 EPS for the current year.

About Bloomin’ Brands

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.