Bloomin’ Brands (NASDAQ:BLMN) Stock Price Down 7.8% – Here’s Why

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) fell 7.8% on Monday . The company traded as low as $5.93 and last traded at $5.9650. 321,095 shares changed hands during trading, a decline of 86% from the average session volume of 2,246,638 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

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

Bloomin’ Brands Stock Performance

The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 2.77. The company has a market cap of $524.36 million, a PE ratio of -9.18 and a beta of 1.15. The firm’s 50-day simple moving average is $6.80 and its two-hundred day simple moving average is $6.96.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLMN. Quarry LP acquired a new stake in shares of Bloomin’ Brands during the fourth quarter worth about $25,000. Northwestern Mutual Wealth Management Co. raised its position in Bloomin’ Brands by 83,825.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,357 shares of the restaurant operator’s stock worth $29,000 after buying an additional 3,353 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Bloomin’ Brands during the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Bloomin’ Brands by 44.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,431 shares of the restaurant operator’s stock valued at $34,000 after acquiring an additional 1,662 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Bloomin’ Brands by 50.9% in the 4th quarter. GAMMA Investing LLC now owns 6,221 shares of the restaurant operator’s stock valued at $38,000 after acquiring an additional 2,099 shares during the last quarter.

About Bloomin’ Brands

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.