Advisors Asset Management Inc. Has $2.39 Million Stock Holdings in Bloomin’ Brands, Inc. $BLMN

Advisors Asset Management Inc. reduced its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 20.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,466 shares of the restaurant operator’s stock after selling 86,450 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bloomin’ Brands were worth $2,391,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BLMN. Federated Hermes Inc. grew its stake in shares of Bloomin’ Brands by 201,255.8% in the third quarter. Federated Hermes Inc. now owns 956,440 shares of the restaurant operator’s stock valued at $6,858,000 after acquiring an additional 955,965 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Bloomin’ Brands by 790.6% during the 3rd quarter. SG Americas Securities LLC now owns 148,219 shares of the restaurant operator’s stock worth $1,063,000 after purchasing an additional 131,577 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Bloomin’ Brands by 395.3% during the second quarter. Intech Investment Management LLC now owns 258,356 shares of the restaurant operator’s stock worth $2,224,000 after purchasing an additional 206,192 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Bloomin’ Brands by 438.1% in the second quarter. Texas Permanent School Fund Corp now owns 217,043 shares of the restaurant operator’s stock valued at $1,869,000 after buying an additional 176,707 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Bloomin’ Brands by 32.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,732,038 shares of the restaurant operator’s stock valued at $23,523,000 after buying an additional 664,545 shares during the period.

Bloomin’ Brands Stock Performance

Bloomin’ Brands stock opened at $6.25 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.45 and a debt-to-equity ratio of 2.77. The stock has a market cap of $532.63 million, a PE ratio of -9.33 and a beta of 1.15. Bloomin’ Brands, Inc. has a 12-month low of $5.86 and a 12-month high of $12.47. The business’s 50-day moving average price is $6.85 and its two-hundred day moving average price is $7.02.

Wall Street Analyst Weigh In

A number of research firms have commented on BLMN. The Goldman Sachs Group upgraded Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $7.00 price objective on the stock in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bloomin’ Brands in a research note on Monday, December 29th. Loop Capital set a $10.00 price objective on shares of Bloomin’ Brands in a research note on Tuesday, December 16th. Finally, Zacks Research upgraded shares of Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $8.64.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the ownership, operation and franchising of casual dining restaurants worldwide. The company’s portfolio includes five full-service restaurant chains: Outback Steakhouse, known for its Australian-inspired steakhouse concept; Carrabba’s Italian Grill, offering Italian-American cuisine; Bonefish Grill, specializing in handcrafted seafood dishes; Fleming’s Prime Steakhouse & Wine Bar, focusing on premium steak and wine experiences; and Aussie Grill by Outback, featuring a streamlined menu of signature items.