Bloomin’ Brands (NASDAQ:BLMN) Reaches New 12-Month Low – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares hit a new 52-week low on Wednesday . The stock traded as low as $6.09 and last traded at $6.26, with a volume of 3263219 shares. The stock had previously closed at $6.44.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, March 7th. The Goldman Sachs Group reduced their price objective on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their target price on Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Bank of America cut Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $18.00 to $13.00 in a research report on Monday, January 27th. Finally, UBS Group dropped their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Two 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.com, the company has a consensus rating of “Hold” and a consensus target price of $14.50.

Bloomin’ Brands Trading Down 4.4 %

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 $587.72 million, a P/E ratio of -62.90 and a beta of 1.76. The stock has a 50-day moving average price of $9.27 and a 200-day moving average price of $12.24.

Bloomin’ Brands Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 8.67%. Bloomin’ Brands’s payout ratio is presently -40.27%.

Insiders Place Their Bets

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Bloomin’ Brands

A number of large investors have recently modified their holdings of BLMN. Headlands Technologies LLC bought a new position in Bloomin’ Brands during the fourth quarter valued at approximately $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Bloomin’ Brands in the 4th quarter valued at $32,000. Meeder Asset Management Inc. bought a new position in shares of Bloomin’ Brands during the 4th quarter valued at $41,000. New Age Alpha Advisors LLC purchased a new position in Bloomin’ Brands in the 4th quarter worth $45,000. Finally, GAMMA Investing LLC lifted its stake in Bloomin’ Brands by 606.6% in the fourth quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 4,198 shares during the last quarter.

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.