Bloomin’ Brands (NASDAQ:BLMN) Trading 7.6% Higher – Time to Buy?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price was up 7.6% on Monday . The stock traded as high as $9.39 and last traded at $9.45. Approximately 390,291 shares changed hands during trading, a decline of 77% from the average daily volume of 1,686,655 shares. The stock had previously closed at $8.79.

Wall Street Analyst Weigh In

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. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $18.00 to $13.00 in a research report on Monday, January 27th. Piper Sandler decreased their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Finally, Barclays set a $11.00 price objective on shares of Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $14.60.

Bloomin’ Brands Stock Up 5.3 %

The business’s 50-day simple moving average is $11.51 and its 200 day simple moving average is $13.88. The firm has a market cap of $786.04 million, a PE ratio of -84.12 and a beta of 2.04. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s payout ratio is -40.27%.

Insider Transactions at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total transaction of $79,497.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Bloomin’ Brands

Several hedge funds have recently made changes to their positions in the business. Verdence Capital Advisors LLC boosted its stake in shares of Bloomin’ Brands by 6.6% in the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after purchasing an additional 780 shares during the period. Franklin Resources Inc. lifted its stake in Bloomin’ Brands by 2.9% in the third quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock valued at $773,000 after buying an additional 1,392 shares during the last quarter. KBC Group NV grew its holdings in Bloomin’ Brands by 79.1% in the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after buying an additional 1,489 shares in the last quarter. Gladius Capital Management LP bought a new position in Bloomin’ Brands in the 3rd quarter valued at about $26,000. Finally, Headlands Technologies LLC bought a new position in Bloomin’ Brands during the 4th quarter valued at $27,000.

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.