Arrowstreet Capital Limited Partnership Acquires 74,387 Shares of Dine Brands Global, Inc. (NYSE:DIN)

Arrowstreet Capital Limited Partnership grew its holdings in Dine Brands Global, Inc. (NYSE:DIN) by 14.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 601,470 shares of the restaurant operator’s stock after buying an additional 74,387 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 3.94% of Dine Brands Global worth $18,104,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Cibc World Market Inc. lifted its stake in Dine Brands Global by 640.6% in the fourth quarter. Cibc World Market Inc. now owns 495,176 shares of the restaurant operator’s stock worth $14,905,000 after acquiring an additional 428,319 shares during the period. Weiss Asset Management LP bought a new position in Dine Brands Global in the 3rd quarter worth $6,102,000. Jane Street Group LLC lifted its position in shares of Dine Brands Global by 229.1% in the 3rd quarter. Jane Street Group LLC now owns 249,713 shares of the restaurant operator’s stock worth $7,799,000 after purchasing an additional 173,831 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Dine Brands Global by 1,733.3% during the 4th quarter. Victory Capital Management Inc. now owns 132,073 shares of the restaurant operator’s stock valued at $3,975,000 after purchasing an additional 124,869 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Dine Brands Global by 164.7% during the third quarter. JPMorgan Chase & Co. now owns 95,399 shares of the restaurant operator’s stock valued at $2,979,000 after buying an additional 59,360 shares during the period. 92.83% of the stock is currently owned by institutional investors.

Dine Brands Global Price Performance

Shares of NYSE:DIN opened at $20.99 on Friday. The company has a market capitalization of $320.18 million, a PE ratio of 3.49 and a beta of 1.85. The business has a fifty day moving average price of $26.14 and a 200-day moving average price of $29.50. Dine Brands Global, Inc. has a 1-year low of $19.63 and a 1-year high of $46.26.

Dine Brands Global (NYSE:DIN) last issued its earnings results on Wednesday, March 5th. The restaurant operator reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $200.75 million. During the same period last year, the firm posted $1.40 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Dine Brands Global, Inc. will post 5.84 earnings per share for the current fiscal year.

Dine Brands Global Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on DIN. Wedbush lowered their price objective on shares of Dine Brands Global from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Barclays dropped their price target on Dine Brands Global from $32.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. KeyCorp decreased their price objective on Dine Brands Global from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group dropped their target price on shares of Dine Brands Global from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Truist Financial decreased their price target 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. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Dine Brands Global presently has a consensus rating of “Hold” and a consensus target price 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.