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

Econ Financial Services Corp decreased its position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 41.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,389 shares of the restaurant operator’s stock after selling 15,802 shares during the period. Econ Financial Services Corp’s holdings in Bloomin’ Brands were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Bloomin’ Brands in the first quarter valued at approximately $30,000. TFO Wealth Partners LLC increased its stake in shares of Bloomin’ Brands by 284,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock valued at $80,000 after acquiring an additional 2,840 shares in the last quarter. EntryPoint Capital LLC grew its holdings 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 worth $96,000 after purchasing an additional 3,292 shares during the period. AdvisorShares Investments LLC increased its stake in Bloomin’ Brands by 21.9% in the fourth quarter. AdvisorShares Investments LLC now owns 5,014 shares of the restaurant operator’s stock valued at $141,000 after purchasing an additional 900 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Bloomin’ Brands by 32.0% during the fourth quarter. Assetmark Inc. now owns 5,314 shares of the restaurant operator’s stock valued at $150,000 after purchasing an additional 1,288 shares during the period.

Bloomin’ Brands Stock Performance

Shares of Bloomin’ Brands stock traded up $0.22 during mid-day trading on Monday, hitting $20.15. 1,220,365 shares of the stock were exchanged, compared to its average volume of 1,459,561. Bloomin’ Brands, Inc. has a 12 month low of $16.20 and a 12 month high of $30.13. The company has a 50-day simple moving average of $19.49 and a 200 day simple moving average of $24.20. The company has a market capitalization of $1.74 billion, a P/E ratio of 31.48 and a beta of 2.04. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.26 and a current ratio of 0.33.

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

Wall Street Analysts Forecast Growth

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

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.