Bloomin’ Brands (NASDAQ:BLMN) Trading 8.5% Higher – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price traded up 8.5% on Tuesday . The stock traded as high as $11.96 and last traded at $12.05. 560,921 shares changed hands during trading, a decline of 65% from the average session volume of 1,605,044 shares. The stock had previously closed at $11.10.

Analyst Upgrades and Downgrades

BLMN has been the subject of a number of recent research reports. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. Barclays reissued an “equal weight” rating and issued a $13.00 price objective (down previously from $19.00) on shares of Bloomin’ Brands in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Finally, UBS Group reduced their price target on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands presently has a consensus rating of “Hold” and a consensus target price of $16.30.

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 firm’s 50-day moving average is $12.07 and its two-hundred day moving average is $14.56. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -110.72 and a beta of 1.97.

Institutional Inflows and Outflows

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