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Starboard is now of BLMN’s top five shareholders, according to a report. The hedge fund tends to target companies that could benefit from operational and financial improvements or be attractive takeover targets.
Bloomin’ Brands owns brands like Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar.
BLMN stock is up 27.3% year-to-date.
