Bloomin’ Brands Inc. (NASDAQ:BLMN): Insider Buying Pushes The Stock Up

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Dallas, Texas 05/19/2014 (FINANCIALSTRENDS) – On Friday, May 16, 2014 Bloomin’ Brands Inc. (NASDAQ:BLMN) disclosed through the Securities and Exchange Commission filing that it’s Director Mindy F. Grossman purchased 5,000 shares of the company’s common stock in a transaction dated May 14, 2014. The shares were acquired at an average price of $20.94 per share, for a total transaction value of $104,700. Following the transaction, Grossman now directly owns 9,857 shares of the company’s stock including restricted stock issued under a Bloomin’ Brands, Inc. stock plan.

Insider Selling:

This insider buying is also significant as it is reported after quite a long time and especially a series of heavy insider selling reported during March 2014. As per the SEC filing on March 12, 2014, Chairman and Chief Executive Officer Elizabeth A. Smith of Bloomin’ Brands Inc. (NASDAQ:BLMN) sold all her holding in the company’s common stock for a total transaction value of $11.79 million. CEO unloaded total of 500,000 shares for an average price of $23.58 per share.

Analyst Ratings:

A number of analysts have recently commented for the stock of Bloomin’ Brands including investment analysts at JPMorgan Chase & Co. who reaffirmed their “overweight” rating on the stock with a price target reduced to $24 from previously announced $26. Equities research analysts at Barclays also reconfirmed an “overweight” rating on the stock with a cut in price target from $31 to $30.

Equity analysts at Jefferies Group also reaffirmed their “buy” rating for the stock of Bloomin’ Brands Inc. (NASDAQ:BLMN) with a cut in price target from $27 to $26.

Among the analysts following this stock, one analyst maintains a “strong buy” rating; nine analysts maintain a “buy” rating; and two analysts maintain a “hold” rating for the stock of Bloomin’ Brands Inc. The strong has a consensus rating of “buy” with an average price objective of $27.19 which suggests potential upside from its current price level.

Stock Update:

Yesterday, the stock of the company closed at $21.57, gaining 4.86% from its previous close.