Harbor Advisors LLC Acquires New Position in Dine Brands Global, Inc. (NYSE:DIN)

Harbor Advisors LLC acquired a new stake in Dine Brands Global, Inc. (NYSE:DIN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,488 shares of the restaurant operator’s stock, valued at approximately $223,000.

Several other large investors have also bought and sold shares of DIN. Bank of New York Mellon Corp increased its position in shares of Dine Brands Global by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 198,807 shares of the restaurant operator’s stock worth $9,831,000 after acquiring an additional 2,448 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Dine Brands Global by 6.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,223,107 shares of the restaurant operator’s stock worth $60,483,000 after acquiring an additional 77,917 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Dine Brands Global by 105.3% during the third quarter. Nisa Investment Advisors LLC now owns 20,863 shares of the restaurant operator’s stock worth $1,032,000 after acquiring an additional 10,700 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Dine Brands Global during the third quarter worth $461,000. Finally, South Dakota Investment Council bought a new stake in shares of Dine Brands Global during the third quarter worth $2,580,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Dine Brands Global Price Performance

Dine Brands Global stock traded up $0.93 during mid-day trading on Tuesday, reaching $45.15. 249,767 shares of the company traded hands, compared to its average volume of 256,142. Dine Brands Global, Inc. has a 52-week low of $42.00 and a 52-week high of $69.71. The firm has a market capitalization of $697.57 million, a price-to-earnings ratio of 7.25 and a beta of 1.68. The firm’s 50 day moving average price is $45.75 and its 200 day moving average price is $46.54.

Dine Brands Global (NYSE:DIN) last released its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported $1.40 EPS for the quarter, beating the consensus estimate of $1.12 by $0.28. The firm had revenue of $206.30 million during the quarter, compared to analyst estimates of $206.24 million. Dine Brands Global had a net margin of 11.69% and a negative return on equity of 37.72%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 EPS. On average, sell-side analysts anticipate that Dine Brands Global, Inc. will post 6.47 EPS for the current year.

Dine Brands Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were paid a $0.51 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $2.04 annualized dividend and a yield of 4.52%. Dine Brands Global’s payout ratio is 32.74%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DIN shares. Truist Financial increased their price target on shares of Dine Brands Global from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Wedbush raised their target price on shares of Dine Brands Global from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. StockNews.com lowered shares of Dine Brands Global from a “buy” rating to a “hold” rating in a report on Monday. Benchmark lifted their price target on shares of Dine Brands Global from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Barclays reduced their target price on shares of Dine Brands Global from $64.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Dine Brands Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.43.

Dine Brands Global Company Profile

Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, and operates restaurants in the United States and internationally. The company operates through six segments: Applebee's Franchise Operations, International House of Pancakes (IHOP) Franchise Solutions, Fuzzy's franchise operations, Rental Operations, Financing Operations, and Company-Operated Restaurant Operations.