Bloomin' Brands, Inc. (NASDAQ:BLMN) Director Julie T. Kunkel Buys 1,500 Shares

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) Director Julie T. Kunkel bought 1,500 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $9.94 per share, with a total value of $14,910.00. Following the transaction, the director now directly owns 3,565 shares of the company's stock, valued at approximately $35,436.10. This trade represents a 72.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Bloomin' Brands Stock Performance

BLMN stock traded up $0.23 during midday trading on Friday, hitting $8.79. The stock had a trading volume of 3,548,904 shares, compared to its average volume of 1,691,763. The firm has a market capitalization of $746.54 million, a price-to-earnings ratio of -79.90 and a beta of 2.04. Bloomin' Brands, Inc. has a 52 week low of $8.00 and a 52 week high of $30.13. The stock has a 50-day simple moving average of $11.51 and a 200 day simple moving average of $13.94. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

Bloomin' Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 6.83%. Bloomin' Brands's dividend payout ratio (DPR) is currently -40.27%.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLMN. Gladius Capital Management LP acquired a new position in Bloomin' Brands during the third quarter worth $26,000. Headlands Technologies LLC acquired a new position in Bloomin' Brands during the fourth quarter worth $27,000. Public Employees Retirement System of Ohio acquired a new position in Bloomin' Brands during the fourth quarter worth $32,000. KBC Group NV raised its stake in Bloomin' Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator's stock worth $56,000 after acquiring an additional 1,489 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Bloomin' Brands during the fourth quarter worth $41,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price objective on Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. StockNews.com raised Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday. Piper Sandler reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Finally, BMO Capital Markets reduced their price objective on 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. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $15.00.

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.