Bloomin’ Brands (NASDAQ:BLMN) Hits New 12-Month Low – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $7.64 and last traded at $7.70, with a volume of 565087 shares changing hands. The stock had previously closed at $8.05.

Analyst Ratings Changes

Several equities research analysts have weighed in on BLMN shares. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. The Goldman Sachs Group dropped their target price 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. Barclays set a $11.00 price target on Bloomin’ Brands and gave the company an “equal weight” rating in a report on Thursday, February 27th. Bank of America cut Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Finally, UBS Group reduced their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.50.

Bloomin’ Brands Price Performance

The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The stock has a market cap of $630.61 million, a P/E ratio of -67.49 and a beta of 2.04. The firm has a 50-day moving average price of $10.52 and a 200-day moving average price of $13.04.

Bloomin’ Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 8.08%. The ex-dividend date was Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio is currently -40.27%.

Insider Activity

In other news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Bloomin’ Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Bloomin’ Brands during the fourth quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new position in shares of Bloomin’ Brands during the fourth quarter valued at $32,000. Meeder Asset Management Inc. purchased a new position in shares of Bloomin’ Brands in the 4th quarter worth about $41,000. New Age Alpha Advisors LLC bought a new position in Bloomin’ Brands in the 4th quarter worth about $45,000. Finally, GAMMA Investing LLC grew its position in Bloomin’ Brands by 606.6% during the 4th quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock valued at $60,000 after purchasing an additional 4,198 shares during the last quarter.

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.