Victory Capital Management Inc. Has $2.05 Million Stock Position in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Key Points

• Victory Capital Management Inc. has significantly reduced its stake in Bloomin' Brands, Inc. by 88.0%, selling over 2 million shares in the first quarter, leaving it with 286,329 shares worth approximately $2.05 million.
• Several other institutional investors have also adjusted their positions in Bloomin' Brands, with GAMMA Investing LLC increasing its stake by 28.9% during the same period.
• Analysts have mixed views on Bloomin' Brands, with JPMorgan Chase and Morgan Stanley raising their price targets to $10.00 while UBS Group lowered its target to $8.50, reflecting a generally cautious outlook for the stock.

Victory Capital Management Inc. lessened its stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 88.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 286,329 shares of the restaurant operator's stock after selling 2,104,374 shares during the quarter. Victory Capital Management Inc. owned about 0.34% of Bloomin' Brands worth $2,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Bloomin' Brands in the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bloomin' Brands during the fourth quarter worth about $32,000. Meeder Asset Management Inc. acquired a new position in shares of Bloomin' Brands during the fourth quarter worth about $41,000. New Age Alpha Advisors LLC acquired a new position in shares of Bloomin' Brands during the fourth quarter worth about $45,000. Finally, GAMMA Investing LLC boosted its position in shares of Bloomin' Brands by 28.9% during the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock worth $45,000 after buying an additional 1,414 shares during the period.

Bloomin' Brands Price Performance

BLMN traded down $0.42 on Friday, reaching $8.70. The stock had a trading volume of 653,714 shares, compared to its average volume of 2,536,331. The firm has a 50-day moving average of $8.99 and a 200-day moving average of $9.21. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $19.87. The company has a market capitalization of $738.47 million, a price-to-earnings ratio of -291.40 and a beta of 1.32. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 2.38.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Bloomin' Brands had a positive return on equity of 55.08% and a negative net margin of 0.05%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The business's revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Bloomin' Brands, Inc. will post 1.8 EPS for the current year.

Wall Street Analysts Forecast Growth

BLMN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. UBS Group dropped their price target on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a report on Monday, May 5th. Morgan Stanley lifted their price target on Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, Barclays lifted their price objective on Bloomin' Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.75.

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.