Bloomin’ Brands (NASDAQ:BLMN) Shares Down 5.5% – Time to Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price dropped 5.5% on Wednesday . The stock traded as low as $11.39 and last traded at $11.37. Approximately 106,621 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,547,206 shares. The stock had previously closed at $12.03.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLMN. Piper Sandler dropped their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Barclays restated an “equal weight” rating and issued a $13.00 price target (down from $19.00) on shares of Bloomin’ Brands in a research report on Tuesday, January 7th. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. The Goldman Sachs Group started coverage on Bloomin’ Brands in a report on Thursday, December 5th. They issued a “sell” rating and a $13.00 target price for the company. Finally, Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and an average target price of $16.30.

Bloomin’ Brands Stock Down 4.2 %

The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $977.78 million, a PE ratio of -104.76 and a beta of 1.97. The business has a fifty day moving average of $12.22 and a 200 day moving average of $14.88.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in shares of Bloomin’ Brands by 34.8% in the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after acquiring an additional 356,456 shares in the last quarter. Barclays PLC lifted its stake in Bloomin’ Brands by 29.4% in the third quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock worth $3,621,000 after acquiring an additional 49,723 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Bloomin’ Brands by 58.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after purchasing an additional 254,570 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Bloomin’ Brands by 6.2% in the 3rd 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Bloomin’ Brands by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after purchasing an additional 70,925 shares during the last quarter.

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.