Ieq Capital LLC Buys Shares of 270,678 Bloomin' Brands, Inc. $BLMN

Key Points

• Ieq Capital LLC bought 270,678 shares of Bloomin’ Brands in the second quarter, worth approximately $2.47 million and representing about 0.32% of the company.
• Several institutional investors also increased their positions, including AQR Capital Management, Millennium Management and Royal Bank of Canada, signaling broader hedge-fund interest in the restaurant operator.
• Bloomin’ Brands beat quarterly earnings expectations with $0.39 EPS versus $0.29 projected, while revenue rose 1.3% year over year to $1.02 billion. Despite the results, analysts maintain a consensus “Hold” rating with a $9.75 target price, below the stock’s reported $11.44 price.

Ieq Capital LLC bought a new position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 270,678 shares of the restaurant operator's stock, valued at approximately $2,474,000. Ieq Capital LLC owned approximately 0.32% of Bloomin' Brands at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Bloomin' Brands by 50.4% during the first quarter. Royal Bank of Canada now owns 333,693 shares of the restaurant operator's stock valued at $2,393,000 after buying an additional 111,801 shares during the last quarter. AQR Capital Management LLC raised its position in Bloomin' Brands by 156.1% in the 1st quarter. AQR Capital Management LLC now owns 591,373 shares of the restaurant operator's stock worth $4,240,000 after buying an additional 360,450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Bloomin' Brands by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,395 shares of the restaurant operator's stock worth $333,000 after buying an additional 2,622 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Bloomin' Brands by 123.1% during the 1st quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator's stock valued at $16,489,000 after acquiring an additional 1,268,988 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Bloomin' Brands by 4.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,048,497 shares of the restaurant operator's stock valued at $7,518,000 after acquiring an additional 43,329 shares during the last quarter.

Bloomin' Brands Stock Down 1.6%

Shares of BLMN stock opened at $11.44 on Tuesday. Bloomin' Brands, Inc. has a 12 month low of $5.19 and a 12 month high of $12.63. The stock has a market cap of $979.49 million, a P/E ratio of 36.90, a P/E/G ratio of 3.00 and a beta of 1.22. The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 1.62. The company has a 50 day simple moving average of $9.16 and a two-hundred day simple moving average of $7.54.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Bloomin' Brands had a net margin of 0.70% and a return on equity of 28.95%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter last year, the company posted $0.32 EPS. The company's revenue was up 1.3% compared to the same quarter last year. Bloomin' Brands has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at -0.270--0.220 EPS. On average, research analysts expect that Bloomin' Brands, Inc. will post 0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup decreased their price objective on shares of Bloomin' Brands from $9.50 to $8.75 and set a "neutral" rating for the company in a report on Friday, July 24th. UBS Group lifted their target price on shares of Bloomin' Brands from $6.00 to $9.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Sanford C. Bernstein set a $9.00 target price on shares of Bloomin' Brands in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Bloomin' Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Finally, The Goldman Sachs Group increased their price target on Bloomin' Brands from $6.00 to $8.50 and gave the company a "neutral" rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Bloomin' Brands has an average rating of "Hold" and a consensus target price of $9.75.

Bloomin' Brands Profile

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.

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