Towle & Co. Sells 178,933 Shares of Bloomin’ Brands, Inc. $BLMN

Towle & Co. lessened its position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 16.3% during the third quarter, Holdings Channel reports. The institutional investor owned 921,443 shares of the restaurant operator’s stock after selling 178,933 shares during the quarter. Towle & Co.’s holdings in Bloomin’ Brands were worth $6,607,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BLMN. Arrowstreet Capital Limited Partnership grew its stake in shares of Bloomin’ Brands by 32.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,732,038 shares of the restaurant operator’s stock worth $23,523,000 after acquiring an additional 664,545 shares in the last quarter. Millennium Management LLC lifted its position in shares of Bloomin’ Brands by 123.1% in the first quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator’s stock worth $16,489,000 after purchasing an additional 1,268,988 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Bloomin’ Brands by 5.1% during the second quarter. Geode Capital Management LLC now owns 1,937,737 shares of the restaurant operator’s stock worth $16,685,000 after purchasing an additional 94,260 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Bloomin’ Brands by 4.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,048,497 shares of the restaurant operator’s stock worth $7,518,000 after purchasing an additional 43,329 shares during the last quarter. Finally, Invesco Ltd. grew its position in Bloomin’ Brands by 8.8% in the second quarter. Invesco Ltd. now owns 1,045,557 shares of the restaurant operator’s stock valued at $9,002,000 after purchasing an additional 84,692 shares in the last quarter.

Bloomin’ Brands Stock Down 2.6%

Bloomin’ Brands stock opened at $6.47 on Friday. The firm has a market capitalization of $551.37 million, a PE ratio of -9.66 and a beta of 1.15. The company’s 50-day moving average is $6.80 and its 200-day moving average is $6.96. Bloomin’ Brands, Inc. has a fifty-two week low of $5.86 and a fifty-two week high of $12.24. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.45 and a quick ratio of 0.38.

Analysts Set New Price Targets

Several equities research analysts have commented on BLMN shares. Zacks Research raised shares of Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. The Goldman Sachs Group raised Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $7.00 target price on the stock in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Bloomin’ Brands in a report on Monday, December 29th. Finally, Loop Capital set a $10.00 price target on Bloomin’ Brands in a research note on Tuesday, December 16th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $8.64.

About Bloomin’ Brands

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.