Bloomin’ Brands (NASDAQ:BLMN) Hits New 52-Week Low – Should You Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares hit a new 52-week low during trading on Thursday . The company traded as low as $7.08 and last traded at $7.17, with a volume of 1577298 shares changing hands. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several research firms have weighed in on BLMN. The Goldman Sachs Group cut their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target 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. Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $18.00 to $13.00 in a report on Monday, January 27th. BMO Capital Markets dropped their target price on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Two 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, Bloomin’ Brands currently has an average rating of “Hold” and a consensus target price of $14.50.

Bloomin’ Brands Trading Down 5.7 %

The firm has a 50-day simple moving average of $9.97 and a 200-day simple moving average of $12.67. 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 stock has a market cap of $577.53 million, a PE ratio of -61.81 and a beta of 2.04.

Bloomin’ Brands Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 8.82%. Bloomin’ Brands’s dividend payout ratio (DPR) is -40.27%.

Insider Buying and Selling at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Bloomin’ Brands

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in Bloomin’ Brands in the 4th quarter worth about $27,000. Public Employees Retirement System of Ohio bought a new position in shares of Bloomin’ Brands in the fourth quarter worth approximately $32,000. Meeder Asset Management Inc. purchased a new stake in Bloomin’ Brands in the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC bought a new stake in Bloomin’ Brands during the fourth quarter valued at approximately $45,000. Finally, GAMMA Investing LLC grew its stake in Bloomin’ Brands by 606.6% in the 4th quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after buying an additional 4,198 shares in 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.