Envestnet Asset Management Inc. Sells 60,490 Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN)

Envestnet Asset Management Inc. lowered its holdings in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 61.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,560 shares of the restaurant operator's stock after selling 60,490 shares during the period. Envestnet Asset Management Inc.'s holdings in Bloomin' Brands were worth $459,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BLMN. American Century Companies Inc. increased its holdings in shares of Bloomin' Brands by 565.9% in the fourth quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator's stock worth $21,873,000 after buying an additional 1,522,370 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Bloomin' Brands by 385.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator's stock valued at $22,187,000 after purchasing an additional 1,442,964 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Bloomin' Brands during the fourth quarter valued at approximately $5,289,000. Franklin Resources Inc. grew its holdings in shares of Bloomin' Brands by 809.9% in the fourth quarter. Franklin Resources Inc. now owns 455,010 shares of the restaurant operator's stock worth $5,556,000 after purchasing an additional 405,003 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Bloomin' Brands by 40.6% in the fourth quarter. Prudential Financial Inc. now owns 1,024,543 shares of the restaurant operator's stock worth $12,510,000 after buying an additional 295,641 shares during the period.

Analyst Upgrades and Downgrades

BLMN has been the topic of a number of analyst reports. StockNews.com upgraded shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Bank of America lowered Bloomin' Brands from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $18.00 to $13.00 in a research report on Monday, January 27th. The Goldman Sachs Group cut their price objective on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, February 27th. Barclays dropped their price target on Bloomin' Brands from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, UBS Group reduced their price objective on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $13.85.

Insider Transactions at Bloomin' Brands

In related news, EVP Patrick M. Hafner sold 9,555 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.00% of the company's stock.

Bloomin' Brands Stock Down 8.4 %

Shares of BLMN traded down $0.67 during mid-day trading on Wednesday, reaching $7.26. The company had a trading volume of 4,096,276 shares, compared to its average volume of 1,990,198. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company has a market capitalization of $616.60 million, a price-to-earnings ratio of -65.99 and a beta of 1.30. The firm has a 50-day moving average price of $7.93 and a 200 day moving average price of $11.21. Bloomin' Brands, Inc. has a 52 week low of $6.09 and a 52 week high of $24.64.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. On average, sell-side analysts forecast that Bloomin' Brands, Inc. will post 1.8 EPS for the current year.

Bloomin' Brands Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 8.26%. Bloomin' Brands's dividend payout ratio is presently -40.27%.

Bloomin' Brands Profile

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.