Alliancebernstein L.P. Cuts Stock Holdings in Dine Brands Global, Inc. (NYSE:DIN)

Alliancebernstein L.P. cut its holdings in shares of Dine Brands Global, Inc. (NYSE:DIN) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,539,126 shares of the restaurant operator’s stock after selling 33,859 shares during the period. Alliancebernstein L.P. owned 10.09% of Dine Brands Global worth $46,328,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in Dine Brands Global during the 3rd quarter valued at $29,000. Mountain Hill Investment Partners Corp. bought a new stake in Dine Brands Global during the fourth quarter valued at about $30,000. EMC Capital Management grew its stake in Dine Brands Global by 2,570.0% in the fourth quarter. EMC Capital Management now owns 2,937 shares of the restaurant operator’s stock valued at $88,000 after purchasing an additional 2,827 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Dine Brands Global during the fourth quarter valued at about $89,000. Finally, Quarry LP lifted its position in shares of Dine Brands Global by 36.3% during the third quarter. Quarry LP now owns 3,130 shares of the restaurant operator’s stock valued at $98,000 after buying an additional 834 shares during the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

Dine Brands Global Stock Performance

Shares of DIN opened at $20.99 on Friday. The stock has a 50-day moving average of $26.14 and a two-hundred day moving average of $29.50. The stock has a market cap of $320.18 million, a P/E ratio of 3.49 and a beta of 1.85. Dine Brands Global, Inc. has a one year low of $19.63 and a one year high of $46.26.

Dine Brands Global (NYSE:DIN) last released its earnings results on Wednesday, March 5th. The restaurant operator reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.48). Dine Brands Global had a negative return on equity of 37.75% and a net margin of 11.31%. The firm had revenue of $204.80 million for the quarter, compared to analyst estimates of $200.75 million. During the same period last year, the firm earned $1.40 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts predict that Dine Brands Global, Inc. will post 5.84 EPS for the current fiscal year.

Dine Brands Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 9.72%. The ex-dividend date of this dividend was Monday, March 17th. Dine Brands Global’s dividend payout ratio (DPR) is currently 48.46%.

Wall Street Analyst Weigh In

DIN has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Dine Brands Global from $37.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Sanford C. Bernstein set a $26.00 price objective on Dine Brands Global in a report on Thursday, March 6th. UBS Group dropped their target price on Dine Brands Global from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. KeyCorp decreased their price target on Dine Brands Global from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wedbush dropped their price target on Dine Brands Global from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Dine Brands Global has an average rating of “Hold” and a consensus price target of $29.00.

About Dine Brands Global

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.