Bloomin' Brands (NASDAQ:BLMN) Shares Down 5.5% - What's Next?

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report)'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 were traded during 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 Analysts Forecast Growth

BLMN has been the subject of several research analyst reports. Piper Sandler decreased their target price on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. UBS Group lowered their price objective on shares of Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group initiated coverage on shares of Bloomin' Brands in a research note on Thursday, December 5th. They issued a "sell" rating and a $13.00 price objective for the company. Barclays reissued an "equal weight" rating and set a $13.00 price target (down from $19.00) on shares of Bloomin' Brands in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.30.

Bloomin' Brands Stock Performance

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's fifty day moving average price is $12.10 and its 200-day moving average price is $14.67.

Hedge Funds Weigh In On Bloomin' Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in Bloomin' Brands in the 3rd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in Bloomin' Brands in the 4th quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Bloomin' Brands during the 4th quarter worth approximately $41,000. New Age Alpha Advisors LLC acquired a new stake in shares of Bloomin' Brands during the 4th quarter worth approximately $45,000. Finally, KBC Group NV grew its stake in shares of Bloomin' Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator's stock worth $56,000 after purchasing an additional 1,489 shares during the period.

About Bloomin' Brands

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.