Bloomin’ Brands (NASDAQ:BLMN) Shares Experience Upward Movement – Here's the Reason

Bloomin’ Brands, Inc. (NASDAQ:BLMN) saw its shares gap up ahead of market opening on Friday. The stock, which closed the previous day at $8.56, started trading at $8.83. By the end of the trading session, shares of Bloomin’ Brands were up to $9.13, with a trading volume of 274,013 shares.

Recent Analyst Reports

Multiple research firms have recently shared their insights regarding BLMN. Notably, on February 27th, BMO Capital Markets lowered its price target for Bloomin’ Brands from $16.00 to $12.00, while also assigning a “market perform” rating. Likewise, Barclays set a new price target at $11.00, giving the company an “equal weight” rating on the same day. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in their report released on Friday. On November 11th, Raymond James modified their rating for the company, decreasing it from “outperform” to “market perform.” Piper Sandler also revised their price target down from $20.00 to $16.00 while maintaining a “neutral” rating. To date, two analysts have rated the stock as a sell while ten have issued hold ratings. According to MarketBeat, Bloomin’ Brands currently holds an average rating of “Hold” with an average target price set at $15.00.

Find Our Latest Stock Report on BLMN

Bloomin’ Brands Observes 2.7% Increase in Stock Price

Bloomin’ Brands' stock price is currently positioned above the moving averages, with its fifty-day moving average at $11.51 and a 200-day moving average at $13.91. The company's market capitalization stands at $746.54 million, showcasing a negative price-to-earnings ratio of -79.90 and a beta value of 2.04. Financial metrics include a current ratio of 0.31, a quick ratio of 0.22, and a debt-to-equity ratio of 4.46.

Dividend Announcement

The firm has also declared a quarterly dividend, scheduled for distribution on Wednesday, March 26th. Stockholders recorded by Tuesday, March 11th, will receive a dividend of $0.15 per share. This equates to an annualized dividend payout of $0.60 with a yield of 6.83%. Bloomin’ Brands’ payout ratio is reported at -40.27%.

Insider Trading Activities

In recent insider news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands on Tuesday, March 4th. The shares were transacted at an average price of $8.32, culminating in a total sale value of $79,497.60. This transaction was filed publicly with the SEC, which is accessible for review. Currently, corporate insiders hold approximately 3.14% of the company’s shares.

Institutional Investor Activity

Several institutional investors have made moves concerning Bloomin’ Brands' shares recently. FMR LLC increased its stake by 34.8% during the third quarter, now holding 1,381,150 shares worth $22,830,000 after adding 356,456 shares. A&I Financial Services LLC has acquired shares in the firm during the fourth quarter, worth $343,000. Barclays PLC has also increased its stake by 29.4% in the third quarter, bringing their total to 219,080 shares valued at $3,621,000. Other notable transactions include Hotchkis & Wiley Capital Management increasing its position in the company by 58.3%, along with Skylands Capital establishing a new stake worth $1,407,000 during the fourth quarter.

About Bloomin’ Brands

Bloomin’ Brands, Inc. specializes in the acquisition, operation, design, and development of various restaurant concepts. The company operates through two main segments: U.S. operations, which include regions in the USA and Puerto Rico, and International operations, which extend to markets in Brazil, South Korea, Hong Kong, and China.

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