Bloomin’ Brands (NASDAQ:BLMN) Trading 8.5% Higher – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shot up 8.5% during trading on Tuesday . The company traded as high as $11.96 and last traded at $12.05. 560,921 shares traded 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler lowered 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. Barclays restated an “equal weight” rating and set a $13.00 price objective (down from $19.00) on shares of Bloomin’ Brands in a report on Tuesday, January 7th. Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group began coverage on shares of Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 target price on the stock. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.30.

Bloomin’ Brands Trading Down 1.6 %

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 business has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $14.47. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -109.13 and a beta of 1.97.

Institutional Trading of Bloomin’ Brands

Several hedge funds and other institutional investors have recently bought and sold shares of BLMN. Public Employees Retirement System of Ohio acquired a new position in shares of Bloomin’ Brands in the 4th quarter valued at about $32,000. Two Sigma Advisers LP acquired a new stake in shares of Bloomin’ Brands during the 4th quarter worth approximately $1,552,000. Two Sigma Investments LP lifted its holdings in shares of Bloomin’ Brands by 160.9% in the 4th quarter. Two Sigma Investments LP now owns 401,697 shares of the restaurant operator’s stock worth $4,905,000 after purchasing an additional 247,702 shares during the last quarter. State of Wyoming grew its stake 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 last quarter. Finally, Systematic Financial Management LP lifted its stake in Bloomin’ Brands by 5.0% in the fourth quarter. Systematic Financial Management LP now owns 655,688 shares of the restaurant operator’s stock valued at $8,006,000 after buying an additional 31,188 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.