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

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $7.75 and last traded at $8.15, with a volume of 260839 shares trading hands. The stock had previously closed at $8.18.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLMN shares. Barclays set a $11.00 price objective on shares of Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. BMO Capital Markets decreased their price target on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. UBS Group decreased their price target on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.60.

Bloomin’ Brands Stock Performance

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 $678.68 million, a P/E ratio of -72.76 and a beta of 2.04. The company’s 50 day moving average price is $11.09 and its 200-day moving average price is $13.50.

Bloomin’ Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -40.27%.

Insider Buying and Selling

In related news, EVP Patrick M. Hafner sold 9,555 shares of the business’s stock in a transaction dated 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 SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors have recently added to or reduced their stakes in BLMN. KBC Group NV lifted its holdings in Bloomin’ Brands by 79.1% during the third 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 last quarter. Royce & Associates LP lifted its holdings in shares of Bloomin’ Brands by 17.0% in the third quarter. Royce & Associates LP now owns 508,688 shares of the restaurant operator’s stock worth $8,409,000 after buying an additional 74,079 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Bloomin’ Brands in the third quarter worth approximately $26,000. Jennison Associates LLC increased its position in shares of Bloomin’ Brands by 4.4% in the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock worth $23,327,000 after purchasing an additional 59,418 shares during the last quarter. Finally, Factorial Partners LLC increased its position in shares of Bloomin’ Brands by 67.1% in the third quarter. Factorial Partners LLC now owns 60,000 shares of the restaurant operator’s stock worth $992,000 after purchasing an additional 24,100 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.