Bloomin’ Brands (NASDAQ:BLMN) Shares Gap Up – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $8.56, but opened at $8.83. Bloomin’ Brands shares last traded at $9.13, with a volume of 274,013 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets cut their target price on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Barclays set a $11.00 target price on shares of Bloomin’ Brands and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $15.00.

Bloomin’ Brands Stock Up 2.7 %

The company has a market capitalization of $746.54 million, a PE ratio of -79.90 and a beta of 2.04. The company’s 50 day moving average is $11.51 and its two-hundred day moving average is $13.91. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 6.83%. Bloomin’ Brands’s dividend payout ratio is currently -40.27%.

Insider Activity

In other news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction that occurred 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 SEC, which is accessible through this hyperlink. Company insiders own 3.14% of the company’s stock.

Institutional Trading of Bloomin’ Brands

Several large investors have recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the third quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Bloomin’ Brands in the fourth quarter worth $27,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bloomin’ Brands in the fourth quarter worth $32,000. Meeder Asset Management Inc. acquired a new stake in shares of Bloomin’ Brands in the fourth quarter worth $41,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Bloomin’ Brands in the fourth quarter worth $45,000.

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.