Bloomin’ Brands (NASDAQ:BLMN) Sets New 12-Month Low – Here’s What Happened

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.79 and last traded at $5.8850, with a volume of 2283795 shares traded. The stock had previously closed at $6.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BLMN shares. Loop Capital set a $10.00 target price on Bloomin’ Brands in a research note on Tuesday, December 16th. The Goldman Sachs Group raised Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $7.00 price objective for the company in a report on Friday, November 7th. Zacks Research upgraded shares of Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Bloomin’ Brands in a research report on Monday, December 29th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $8.64.

Bloomin’ Brands Trading Down 4.4%

The stock has a fifty day moving average of $6.78 and a two-hundred day moving average of $6.95. The company has a market capitalization of $500.24 million, a PE ratio of -8.76 and a beta of 1.15. The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 2.77.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of Bloomin’ Brands by 44.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,431 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 1,662 shares during the last quarter. WINTON GROUP Ltd boosted its position in Bloomin’ Brands by 1.1% during the third quarter. WINTON GROUP Ltd now owns 163,932 shares of the restaurant operator’s stock valued at $1,175,000 after buying an additional 1,752 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Bloomin’ Brands by 9.0% during the third quarter. Harbor Capital Advisors Inc. now owns 23,502 shares of the restaurant operator’s stock valued at $169,000 after buying an additional 1,950 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Bloomin’ Brands by 72.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,743 shares of the restaurant operator’s stock worth $41,000 after buying an additional 2,000 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Bloomin’ Brands by 50.9% in the fourth quarter. GAMMA Investing LLC now owns 6,221 shares of the restaurant operator’s stock worth $38,000 after buying an additional 2,099 shares during the period.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the ownership, operation and franchising of casual dining restaurants worldwide. The company’s portfolio includes five full-service restaurant chains: Outback Steakhouse, known for its Australian-inspired steakhouse concept; Carrabba’s Italian Grill, offering Italian-American cuisine; Bonefish Grill, specializing in handcrafted seafood dishes; Fleming’s Prime Steakhouse & Wine Bar, focusing on premium steak and wine experiences; and Aussie Grill by Outback, featuring a streamlined menu of signature items.