Bloomin’ Brands Inc (BLMN): Billionaire Steve Cohen Boosts Stake to 5.1%

In a new filing with the Securities and Exchange Commission, billionaire Steve Cohen‘s Point72 Asset Management disclosed boosting its position in Bloomin’ Brands Inc (NASDAQ:BLMN) to 6.37 million shares, which represent 5.1% of the company’s outstanding common stock. The stake was raised from 1.55 million shares that the fund reported in its latest 13F filing for the first quarter of 2015. During the first three months of the year, Point72 cut the position by around 707,700 shares.


The investor has been holding shares of Bloomin’ Brands Inc (NASDAQ:BLMN) for a while, disclosing ownership of 3.81 million shares in the first 13F for the second quarter of 2014. Moreover, Cohen’s previous fund, SAC Capital Advisors has also been a shareholder of Bloomin Brands until it was changed into Point72 Asset Management. Bloomin’ Brands Inc (NASDAQ:BLMN) is a $2.80 billion casual dining restaurant company, whose stock is down by 8.5% since the beginning of the year.

Bloomin’ Brands Inc (NASDAQ:BLMN) is relatively popular among the funds we track with 39 investors holding in aggregate around $664.81 million worth of stock as of the end of March. Moreover, the three largest shareholders among the funds from our database are billionaires Ken Griffin‘s Citadel Investment Group, Israel Englander’s Millennium Management and David E. Shaw’s D.E. Shaw, which own 4.19 million shares, 2.73 million shares and 2.56 million shares respectively. However, their stakes amass very small positions in their equity portfolios.

Disclosure: none