Insider Selling: Bloomin’ Brands Inc (NASDAQ:BLMN) Insider Sells 116,318 Shares of Stock

Bloomin’ Brands Inc (NASDAQ:BLMN) insider Elizabeth A. Smith sold 116,318 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the sale, the insider now owns 411,733 shares in the company, valued at $8,230,542.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Bloomin’ Brands stock traded down $0.38 during trading on Friday, hitting $19.31. The stock had a trading volume of 5,329,600 shares, compared to its average volume of 1,624,499. The company has a market cap of $1.76 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.21 and a beta of 0.30. The company has a debt-to-equity ratio of 9.20, a current ratio of 0.30 and a quick ratio of 0.21. Bloomin’ Brands Inc has a 1 year low of $17.08 and a 1 year high of $23.16.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, April 26th. The restaurant operator reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Bloomin’ Brands had a net margin of 2.56% and a return on equity of 124.00%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. On average, analysts expect that Bloomin’ Brands Inc will post 1.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, May 10th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently 26.67%.

A number of analysts have commented on BLMN shares. Zacks Investment Research upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, March 12th. BMO Capital Markets downgraded shares of Bloomin’ Brands from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $23.00 to $18.00 in a research report on Thursday, May 23rd. BidaskClub downgraded shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Guggenheim raised shares of Bloomin’ Brands from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, May 24th. Finally, ValuEngine raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.70.

Hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new stake in shares of Bloomin’ Brands during the first quarter worth approximately $27,000. Cresset Asset Management LLC acquired a new stake in shares of Bloomin’ Brands during the first quarter worth approximately $44,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Bloomin’ Brands during the first quarter worth approximately $65,000. Advisor Group Inc. boosted its holdings in shares of Bloomin’ Brands by 72.0% during the fourth quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,353 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Bloomin’ Brands during the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 94.24% of the company’s stock.

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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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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