Bloomin’ Brands (NASDAQ:BLMN) Shares Down 3.6% – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares were down 3.6% during trading on Monday . The stock traded as low as $8.29 and last traded at $8.24. Approximately 1,417,868 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 1,726,437 shares. The stock had previously closed at $8.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BLMN shares. The Goldman Sachs Group cut their price target on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. BMO Capital Markets dropped their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. UBS Group cut their price target on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays set a $11.00 target price on Bloomin’ Brands and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $14.60.

Bloomin’ Brands Stock Down 4.0 %

The firm has a 50-day moving average price of $11.18 and a two-hundred day moving average price of $13.57. The company has a market capitalization of $696.86 million, a P/E ratio of -74.86 and a beta of 2.04. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.31%. Bloomin’ Brands’s dividend payout ratio is -40.27%.

Insider Buying and Selling at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands 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 filing with the SEC, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in BLMN. Gladius Capital Management LP acquired a new stake in Bloomin’ Brands in the 3rd quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of Bloomin’ Brands in the 4th quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bloomin’ Brands during the 4th quarter worth about $32,000. Meeder Asset Management Inc. bought a new position in Bloomin’ Brands during the 4th quarter valued at about $41,000. Finally, New Age Alpha Advisors LLC bought a new position in Bloomin’ Brands during the 4th quarter valued at about $45,000.

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.