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

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

Wall Street Analyst Weigh In

BLMN has been the subject of several research analyst reports. Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $18.00 to $13.00 in a research report on Monday, January 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. BMO Capital Markets reduced their price target on shares of 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 lowered their price objective on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.60.

Bloomin’ Brands Price Performance

The firm has a market capitalization of $696.86 million, a price-to-earnings 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. The company’s fifty day moving average is $11.18 and its two-hundred day moving average is $13.57.

Bloomin’ Brands Cuts Dividend

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

Insider Buying and Selling at Bloomin’ Brands

In other 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Trading of Bloomin’ Brands

A number of institutional investors have recently modified their holdings of BLMN. Gladius Capital Management LP acquired a new position in Bloomin’ Brands during the third quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Bloomin’ Brands in the 4th quarter valued at approximately $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bloomin’ Brands during the 4th quarter worth about $32,000. KBC Group NV raised its holdings in shares of Bloomin’ Brands by 79.1% in the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after purchasing an additional 1,489 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Bloomin’ Brands in the 4th quarter valued at about $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.