SummerHaven Investment Management LLC Makes New Investment in Dine Brands Global, Inc. $DIN

SummerHaven Investment Management LLC bought a new stake in shares of Dine Brands Global, Inc. (NYSE:DIN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,871 shares of the restaurant operator’s stock, valued at approximately $837,000. SummerHaven Investment Management LLC owned approximately 0.22% of Dine Brands Global at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Millennium Management LLC raised its stake in shares of Dine Brands Global by 51.2% in the 1st quarter. Millennium Management LLC now owns 507,801 shares of the restaurant operator’s stock valued at $11,817,000 after acquiring an additional 172,013 shares in the last quarter. Monimus Capital Management LP bought a new position in shares of Dine Brands Global in the second quarter valued at approximately $2,282,000. Balyasny Asset Management L.P. acquired a new stake in shares of Dine Brands Global in the second quarter worth $2,005,000. SG Americas Securities LLC bought a new stake in shares of Dine Brands Global during the 3rd quarter worth $1,983,000. Finally, Bank of America Corp DE grew its stake in Dine Brands Global by 41.1% in the 2nd quarter. Bank of America Corp DE now owns 224,420 shares of the restaurant operator’s stock valued at $5,460,000 after buying an additional 65,326 shares during the last quarter. Institutional investors own 92.83% of the company’s stock.

Dine Brands Global Price Performance

Dine Brands Global stock opened at $34.04 on Thursday. The business has a 50 day moving average price of $33.79 and a two-hundred day moving average price of $27.69. The stock has a market cap of $490.86 million, a price-to-earnings ratio of 15.20 and a beta of 0.92. Dine Brands Global, Inc. has a 12 month low of $18.63 and a 12 month high of $39.68.

Dine Brands Global (NYSE:DIN) last announced its quarterly earnings data on Wednesday, November 5th. The restaurant operator reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.09). The firm had revenue of $216.17 million for the quarter, compared to analyst estimates of $221.61 million. Dine Brands Global had a negative return on equity of 26.01% and a net margin of 3.91%.Dine Brands Global’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS. On average, analysts expect that Dine Brands Global, Inc. will post 5.84 earnings per share for the current fiscal year.

Dine Brands Global Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, December 23rd. Dine Brands Global’s payout ratio is 33.93%.

Analysts Set New Price Targets

A number of research firms have weighed in on DIN. UBS Group boosted their target price on shares of Dine Brands Global from $21.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. KeyCorp boosted their price objective on Dine Brands Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Mizuho increased their target price on Dine Brands Global from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Barclays lifted their price target on Dine Brands Global from $26.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Dine Brands Global in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.29.

Insiders Place Their Bets

In other Dine Brands Global news, Director Howard M. Berk acquired 4,082 shares of Dine Brands Global stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $24.50 per share, with a total value of $100,009.00. Following the acquisition, the director owned 41,947 shares of the company’s stock, valued at approximately $1,027,701.50. The trade was a 10.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Dahl bought 3,600 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $27.47 per share, for a total transaction of $98,892.00. Following the completion of the transaction, the director owned 3,600 shares in the company, valued at $98,892. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 8,332 shares of company stock valued at $220,455. Corporate insiders own 4.56% of the company’s stock.

Dine Brands Global Company Profile

Dine Brands Global, Inc is a leading franchisor and operator of full?service restaurants in the casual dining and breakfast segments. The company’s primary brands include IHOP®, known for its wide variety of breakfast offerings and pancakes, and Applebee’s Neighborhood Grill + Bar®, a casual dining concept featuring a range of American entrées, appetizers and cocktails. Through its franchise model, Dine Brands works with independent restaurant owners to develop, market and support both domestic and international locations.

The origins of Dine Brands Global date back to the founding of the International House of Pancakes (IHOP) in 1958 in California.