Bloomin’ Brands (NASDAQ:BLMN) Trading Up 4.7% – Here’s Why

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) shot up 4.7% during trading on Thursday . The stock traded as high as $8.14 and last traded at $8.30. 136,120 shares changed hands during trading, a decline of 92% from the average session volume of 1,767,295 shares. The stock had previously closed at $7.93.

Wall Street Analysts Forecast Growth

BLMN has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their target price on Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. The Goldman Sachs Group reduced their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.50.

Bloomin’ Brands Price Performance

The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The stock has a market capitalization of $686.50 million, a price-to-earnings ratio of -73.49 and a beta of 2.04. The business’s 50 day simple moving average is $10.59 and its 200-day simple moving average is $13.08.

Bloomin’ Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.42%. The ex-dividend date was Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -40.27%.

Insiders Place Their Bets

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of BLMN. FMR LLC boosted its stake in shares of Bloomin’ Brands by 34.8% during the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after purchasing an additional 356,456 shares in the last quarter. A&I Financial Services LLC acquired a new stake in Bloomin’ Brands during the 4th quarter worth approximately $343,000. Barclays PLC grew its holdings in Bloomin’ Brands by 29.4% during the 3rd quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock worth $3,621,000 after acquiring an additional 49,723 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Bloomin’ Brands by 58.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after acquiring an additional 254,570 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Bloomin’ Brands by 12.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,414,415 shares of the restaurant operator’s stock valued at $17,270,000 after acquiring an additional 159,356 shares during the period.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.