Bloomin’ Brands (NASDAQ:BLMN) Stock Price Up 8.5% – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price shot up 8.5% during trading on Tuesday . The stock traded as high as $11.96 and last traded at $12.05. 560,921 shares changed hands during trading, a decline of 65% from the average session volume of 1,605,044 shares. The stock had previously closed at $11.10.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLMN. JPMorgan Chase & Co. cut their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Piper Sandler reduced their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group decreased their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Two equities research 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, the stock currently has an average rating of “Hold” and a consensus target price of $16.30.

Bloomin’ Brands Trading Down 1.6 %

The company has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $14.47. 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 company has a market cap of $1.02 billion, a PE ratio of -109.13 and a beta of 1.97.

Institutional Trading of Bloomin’ Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Bloomin’ Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after acquiring an additional 147,895 shares in the last quarter. Erste Asset Management GmbH bought a new position in Bloomin’ Brands during the third quarter valued at about $41,325,000. Victory Capital Management Inc. raised its stake in shares of Bloomin’ Brands by 0.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator’s stock valued at $29,190,000 after purchasing an additional 10,635 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bloomin’ Brands by 385.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after acquiring an additional 1,442,964 shares during the period. Finally, American Century Companies Inc. lifted its stake in Bloomin’ Brands by 565.9% during the fourth quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after purchasing an additional 1,522,370 shares during the period.

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.