Bloomin’ Brands (NASDAQ:BLMN) Trading Up 7.6% – Should You Buy?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares were up 7.6% during trading on Monday . The company traded as high as $9.39 and last traded at $9.45. Approximately 390,291 shares traded hands during mid-day 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 Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company 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. JPMorgan Chase & Co. decreased their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday. Piper Sandler lowered their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.60.

Bloomin’ Brands Stock Performance

The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The stock has a market capitalization of $786.04 million, a price-to-earnings ratio of -84.12 and a beta of 2.04. The firm’s fifty day moving average price is $11.51 and its 200 day moving average price is $13.88.

Bloomin’ Brands Cuts Dividend

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

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.14% of the company’s stock.

Institutional Trading of Bloomin’ Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC lifted its stake in shares of Bloomin’ Brands by 6.6% in the 3rd 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 last quarter. Franklin Resources Inc. lifted its position in Bloomin’ Brands by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock worth $773,000 after buying an additional 1,392 shares in the last quarter. KBC Group NV boosted its holdings in Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after acquiring an additional 1,489 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at $26,000. Finally, Headlands Technologies LLC acquired a new position in Bloomin’ Brands during the fourth quarter valued at approximately $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.