IndexIQ Advisors LLC trimmed its stake in Bloomin’ Brands Inc (NASDAQ:BLMN) by 24.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,664 shares of the restaurant operator’s stock after selling 12,589 shares during the period. IndexIQ Advisors LLC’s holdings in Bloomin’ Brands were worth $875,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Bloomin’ Brands by 5.2% in the 4th quarter. Rhumbline Advisers now owns 272,853 shares of the restaurant operator’s stock valued at $6,022,000 after acquiring an additional 13,585 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Bloomin’ Brands by 8.2% in the 4th quarter. Victory Capital Management Inc. now owns 35,709 shares of the restaurant operator’s stock valued at $742,000 after acquiring an additional 2,718 shares during the period. Copeland Capital Management LLC increased its holdings in shares of Bloomin’ Brands by 2.0% in the 4th quarter. Copeland Capital Management LLC now owns 1,574,914 shares of the restaurant operator’s stock valued at $34,758,000 after acquiring an additional 31,435 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Bloomin’ Brands by 18.7% in the 4th quarter. First Mercantile Trust Co. now owns 8,964 shares of the restaurant operator’s stock valued at $198,000 after acquiring an additional 1,413 shares during the period. Finally, CFM Wealth Partners LLC purchased a new position in shares of Bloomin’ Brands in the 4th quarter valued at $45,000.

Bloomin’ Brands stock opened at $21.54 on Friday. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.27 and a quick ratio of 0.17. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.26 and a beta of 0.35. Bloomin’ Brands Inc has a 1-year low of $15.12 and a 1-year high of $24.29. The business has a fifty day moving average price of $21.45 and a 200-day moving average price of $20.19.

A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Bloomin’ Brands from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. ValuEngine upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Goldman Sachs Group assumed coverage on Bloomin’ Brands in a report on Thursday, December 12th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded Bloomin’ Brands from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $25.00 in a report on Thursday, November 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.80.

About Bloomin’ Brands

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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Institutional Ownership by Quarter for Bloomin` Brands (NASDAQ:BLMN)

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