Bloomin’ Brands (NASDAQ:BLMN) Sets New 12-Month Low – Should You Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $7.08 and last traded at $7.17, with a volume of 1577298 shares. The stock had previously closed at $7.82.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BLMN shares. Bank of America lowered shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. UBS Group dropped their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group decreased their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Barclays set a $11.00 price objective on Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets decreased their target price on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.50.

Bloomin’ Brands Trading Down 7.8 %

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 company has a market cap of $612.35 million, a PE ratio of -65.54 and a beta of 2.04. The stock has a 50 day moving average price of $10.19 and a 200 day moving average price of $12.78.

Bloomin’ Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.32%. The ex-dividend date was Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -40.27%.

Insider Buying and Selling

In related news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLMN. Franklin Resources Inc. increased its holdings in shares of Bloomin’ Brands by 2.9% during the third 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 in the last quarter. Headlands Technologies LLC purchased a new stake in Bloomin’ Brands during the 4th quarter valued at about $27,000. Public Employees Retirement System of Ohio bought a new stake in Bloomin’ Brands during the 4th quarter valued at about $32,000. Rhumbline Advisers raised its holdings in Bloomin’ Brands by 1.3% in the fourth quarter. Rhumbline Advisers now owns 238,093 shares of the restaurant operator’s stock worth $2,907,000 after buying an additional 2,977 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Bloomin’ Brands in the fourth quarter worth approximately $41,000.

About Bloomin’ Brands

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.