Meeder Asset Management Inc. Makes New Investment in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Meeder Asset Management Inc. purchased a new position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,389 shares of the restaurant operator’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLMN. Arrowstreet Capital Limited Partnership lifted its position in Bloomin’ Brands by 385.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after purchasing an additional 1,442,964 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Bloomin’ Brands in the 4th quarter worth $45,000. Norges Bank acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at $849,000. Easterly Investment Partners LLC boosted its stake in Bloomin’ Brands by 5.6% during the fourth quarter. Easterly Investment Partners LLC now owns 713,941 shares of the restaurant operator’s stock valued at $8,717,000 after buying an additional 37,784 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its holdings in Bloomin’ Brands by 50.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 46,845 shares of the restaurant operator’s stock worth $572,000 after acquiring an additional 15,666 shares during the period.

Analysts Set New Price Targets

BLMN has been the subject of several research reports. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $18.00 to $13.00 in a 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. The Goldman Sachs Group decreased their target price on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets reduced their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a 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. According to data from MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and an average price target of $14.50.

Bloomin’ Brands Trading Up 7.3 %

Shares of NASDAQ BLMN opened at $7.69 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands, Inc. has a one year low of $7.08 and a one year high of $29.00. The business has a 50-day moving average price of $10.27 and a two-hundred day moving average price of $12.81. The firm has a market capitalization of $653.12 million, a PE ratio of -69.90 and a beta of 2.04.

Bloomin’ Brands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.80%. The ex-dividend date of this dividend was Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio is currently -40.27%.

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Bloomin’ Brands Company Profile

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.