Econ Financial Services Corp Has $642,000 Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Econ Financial Services Corp cut its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 41.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,389 shares of the restaurant operator’s stock after selling 15,802 shares during the quarter. Econ Financial Services Corp’s holdings in Bloomin’ Brands were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLMN. Headlands Technologies LLC purchased a new stake in shares of Bloomin’ Brands in the first quarter worth approximately $30,000. TFO Wealth Partners LLC raised its holdings in shares of Bloomin’ Brands by 284,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock worth $80,000 after acquiring an additional 2,840 shares in the last quarter. EntryPoint Capital LLC grew its stake in Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after purchasing an additional 3,292 shares in the last quarter. AdvisorShares Investments LLC increased its position in Bloomin’ Brands by 21.9% in the 4th quarter. AdvisorShares Investments LLC now owns 5,014 shares of the restaurant operator’s stock worth $141,000 after purchasing an additional 900 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Bloomin’ Brands by 32.0% during the 4th quarter. Assetmark Inc. now owns 5,314 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 1,288 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on BLMN. Morgan Stanley dropped their price objective on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. BMO Capital Markets reduced their price objective on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday, May 8th. Barclays lowered their target price on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. UBS Group lowered their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.56.

Bloomin’ Brands Price Performance

NASDAQ BLMN traded up $0.22 on Monday, reaching $20.15. The company’s stock had a trading volume of 1,220,365 shares, compared to its average volume of 1,459,561. Bloomin’ Brands, Inc. has a 52 week low of $16.20 and a 52 week high of $30.13. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 3.12. The firm has a market cap of $1.74 billion, a PE ratio of 31.48 and a beta of 2.04. The business has a 50-day moving average price of $19.49 and a 200 day moving average price of $24.20.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.05). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts expect that Bloomin’ Brands, Inc. will post 2.39 EPS for the current year.

Bloomin’ Brands Profile

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.