Insider Selling: Lefferts Kelly, Bloomin’ Brands Inc. [BLMN] EVP, Chief Legal Officer divested 8,087 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bloomin’ Brands Inc. shares valued at $168,371 were sold by Lefferts Kelly on Jun 02. At $20.82 per share, Lefferts Kelly sold 8,087 shares. The insider’s holdings dropped to 36,626 shares worth approximately $0.76 million following the completion of this transaction.

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Also, SMITH ELIZABETH A sold 8,869 shares, netting a total of over 212,856 in proceeds. Following the sale of shares at $24.00 each, the insider now holds 438,326 shares.

Before that, SMITH ELIZABETH A had sold 191,131 shares from its account. In a trade valued at $4,613,902, the Director traded Bloomin’ Brands Inc. shares for $24.14 each. Upon closing the transaction, the insider’s holdings decreased to 191,131 shares, worth approximately $9.32 million.

As published in their initiating research note from Citigroup on April 12, 2022, Bloomin’ Brands Inc. [BLMN] has been a Neutral and the price target has been revised to $24. This represents a 13.21% premium over Thursday’s closing price. Analysts at Raymond James resumed the stock at ‘”a Strong buy”‘ outlook in a report released in late February. As of February 22, 2022, Jefferies has reiterated its “Buy” rating for BLMN. Earlier on February 22, 2022, Deutsche Bank resumed its rating. Their recommendation was “a Buy” for BLMN stock.

Analyzing BLMN’s Price Performance

On Thursday, Bloomin’ Brands Inc. [NASDAQ: BLMN] plunged -2.02% to $20.83. The stock’s lowest price that day was $20.71, but it reached a high of $21.43 in the same session. During the last five days, there has been a surge of approximately 5.31%. Over the course of the year, Bloomin’ Brands Inc. shares have dropped approximately -0.71%. Shares of the company reached a 52-week high of $25.51 on 02/18/22 and a 52-week low of $15.89 on 06/22/22. A 50-day SMA is recorded $18.53, while a 200-day SMA reached $20.45. Nevertheless, trading volume fell to 2.59 million shares from 2.42 million shares the previous day.

Support And Resistance Levels for Bloomin’ Brands Inc. (BLMN)

According to the 24-hour chart, there is a support level at 20.55, which, if violated, would cause prices to drop to 20.27. In the upper region, resistance lies at 21.27. The next price resistance is at 21.71. RSI (Relative Strength Index) is 66.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.70, which suggests the price will increase in the coming days. Percent R is at 15.85%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Bloomin’ Brands Inc. subject to short interest?

Stocks of Bloomin’ Brands Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.6 million shares to 10.93 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.53 million shares. A decline of -5.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.01 of the overall float, the days-to-cover ratio (short ratio) decline to 6.01.

Which companies own the most shares of Bloomin’ Brands Inc. (BLMN)?

According to BlackRock Fund Advisors filings, the company currently owns 13,159,594 shares, which is about 14.84% of the total BLMN shares outstanding. The investor’s shares have appreciated by 882,892 from its previous 13-F filing of 12276702.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $155,721,173. ClearBridge Investments LLC acquire a 171.32% interest valued at $93.51 million while Tremblant Capital LP sold a -213,267 stake. A total of 81,736 shares of Bloomin’ Brands Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 66,955 were bought by Jennison Associates LLC. In its current portfolio, Millennium Management LLC holds 2,391,642 shares valued at $39.75 million.

In terms of Bloomin’ Brands Inc. share price expectations, FactSet research, analysts set an average price target of $27.14 in the next 12 months, up nearly 22.3% from the previous closing price of $21.26. Analysts anticipate Bloomin’ Brands Inc. stock to reach $36.00 by 2022, with the lowest price target being $22.00. In spite of this, 12 analysts ranked Bloomin’ Brands Inc. stock as an Overweight at the end of 2022. On February 22, 2022, BMO Capital Markets assigned a price target of “an Outperform” to the stock and reiterated coverage with a $33.


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