Rye Brook Capital LLC Increases Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Rye Brook Capital LLC raised its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,700 shares of the restaurant operator’s stock after purchasing an additional 3,500 shares during the quarter. Bloomin’ Brands comprises about 2.5% of Rye Brook Capital LLC’s investment portfolio, making the stock its 17th biggest position. Rye Brook Capital LLC owned 0.20% of Bloomin’ Brands worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of BLMN. Principal Financial Group Inc. grew its position in shares of Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after acquiring an additional 147,895 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Bloomin’ Brands in the 3rd quarter valued at approximately $41,325,000. Jennison Associates LLC increased its holdings in shares of Bloomin’ Brands by 4.4% during 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. FMR LLC increased its stake in Bloomin’ Brands by 34.8% during the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after buying an additional 356,456 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Bloomin’ Brands by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock worth $20,746,000 after buying an additional 70,925 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. UBS Group dropped their price target on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Finally, Piper Sandler dropped their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.30.

Bloomin’ Brands Price Performance

Shares of NASDAQ:BLMN opened at $12.18 on Wednesday. The business has a 50-day moving average of $12.07 and a two-hundred day moving average of $14.56. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. Bloomin’ Brands, Inc. has a fifty-two week low of $10.85 and a fifty-two week high of $30.13. The stock has a market capitalization of $1.03 billion, a P/E ratio of -110.72 and a beta of 1.97.

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.