Bloomin’ Brands (NASDAQ:BLMN) Trading Up 4.9% – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares were up 4.9% during trading on Monday . The stock traded as high as $8.37 and last traded at $8.34. Approximately 1,230,979 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,928,250 shares. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Barclays set a $11.00 price objective on Bloomin’ Brands and gave the stock an “equal weight” rating in a report on Thursday, February 27th. UBS Group decreased their target price 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. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $18.00 to $13.00 in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.50.

Bloomin’ Brands Stock Performance

The business’s fifty day moving average price is $8.71 and its two-hundred day moving average price is $11.84. The stock has a market capitalization of $713.42 million, a P/E ratio of -76.36 and a beta of 1.76. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31.

Bloomin’ Brands Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend 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 dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloomin’ Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC grew its stake in Bloomin’ Brands by 8,666.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator’s stock valued at $19,148,000 after acquiring an additional 1,550,364 shares in the last quarter. American Century Companies Inc. lifted its stake in Bloomin’ Brands by 565.9% in the fourth quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after acquiring an additional 1,522,370 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Bloomin’ Brands by 385.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after acquiring an additional 1,442,964 shares in the last quarter. Marshall Wace LLP grew its position in shares of Bloomin’ Brands by 483.0% in the 4th quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator’s stock valued at $14,965,000 after buying an additional 1,015,372 shares during the last quarter. Finally, Fund 1 Investments LLC purchased a new stake in Bloomin’ Brands in the fourth quarter valued at approximately $7,839,000.

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.