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

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) hit a new 52-week low during trading on Tuesday . The company 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.

Analyst Ratings Changes

BLMN has been the subject of a number of recent analyst reports. Barclays set a $11.00 price target on shares of Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. UBS Group cut their target price 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. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. cut their target price 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. Finally, The Goldman Sachs Group cut their target price on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and a consensus target price of $14.60.

Bloomin’ Brands Trading Down 2.3 %

The firm has a market capitalization of $678.68 million, a P/E ratio of -72.76 and a beta of 2.04. The business’s 50-day moving average is $11.09 and its 200 day moving average is $13.50. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Bloomin’ Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date of this dividend is Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio 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 dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Bloomin’ Brands

Several hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Bloomin’ Brands in the 4th quarter valued at about $3,519,000. Public Employees Retirement System of Ohio bought a new position in Bloomin’ Brands in the 4th quarter valued at about $32,000. Two Sigma Advisers LP bought a new position in Bloomin’ Brands in the 4th quarter valued at about $1,552,000. Two Sigma Investments LP increased its holdings in Bloomin’ Brands by 160.9% in the 4th quarter. Two Sigma Investments LP now owns 401,697 shares of the restaurant operator’s stock valued at $4,905,000 after buying an additional 247,702 shares during the period. Finally, State of Wyoming boosted its position in Bloomin’ Brands by 99.5% during the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator’s stock worth $126,000 after buying an additional 5,146 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.