Mork Capital Management LLC Trims Stock Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Mork Capital Management LLC trimmed its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 41.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,000 shares of the restaurant operator’s stock after selling 35,140 shares during the quarter. Mork Capital Management LLC’s holdings in Bloomin’ Brands were worth $610,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Bloomin’ Brands in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth approximately $41,000. New Age Alpha Advisors LLC purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth approximately $45,000. GAMMA Investing LLC increased its stake in shares of Bloomin’ Brands by 606.6% during the 4th quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 4,198 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth approximately $140,000.

Bloomin’ Brands Price Performance

Shares of Bloomin’ Brands stock opened at $8.81 on Tuesday. Bloomin’ Brands, Inc. has a twelve month low of $6.09 and a twelve month high of $24.50. The stock has a market capitalization of $748.24 million, a P/E ratio of -80.08 and a beta of 1.30. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The business’s fifty day moving average price is $7.85 and its 200 day moving average price is $10.95.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Tuesday, May 20th. Bloomin’ Brands’s payout ratio is -2,000.00%.

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. The Goldman Sachs Group dropped their price objective on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Finally, Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. Two investment 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 presently has a consensus rating of “Hold” and an average target price of $13.75.

About Bloomin’ Brands

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.