Dynamic Technology Lab Private Ltd Invests $1.06 Million in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 64,384 shares of the restaurant operator’s stock, valued at approximately $1,064,000. Dynamic Technology Lab Private Ltd owned 0.08% of Bloomin’ Brands as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Bloomin’ Brands by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator’s stock worth $49,105,000 after buying an additional 16,878 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Bloomin’ Brands by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after purchasing an additional 147,895 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Bloomin’ Brands by 29.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after purchasing an additional 569,855 shares during the period. Deprince Race & Zollo Inc. purchased a new position in shares of Bloomin’ Brands in the 2nd quarter valued at about $28,672,000. Finally, Jennison Associates LLC lifted its stake in shares of Bloomin’ Brands by 4.4% in the third 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 period.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup dropped their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Barclays reduced their price objective on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Bank of America decreased their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Piper Sandler lowered their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Down 3.0 %

Shares of NASDAQ BLMN opened at $13.74 on Wednesday. Bloomin’ Brands, Inc. has a 52-week low of $12.26 and a 52-week high of $30.13. The stock has a market capitalization of $1.17 billion, a PE ratio of -125.27 and a beta of 2.04. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The firm has a fifty day moving average of $15.64 and a 200-day moving average of $17.83.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s payout ratio is -872.73%.

Bloomin’ Brands 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.