Hsbc Holdings PLC Buys New Shares in Dine Brands Global, Inc. $DIN

Hsbc Holdings PLC purchased a new stake in shares of Dine Brands Global, Inc. (NYSE:DIN) during the second quarter, Holdings Channel reports. The firm purchased 23,506 shares of the restaurant operator’s stock, valued at approximately $837,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Dine Brands Global in the 2nd quarter worth about $47,832,000. Cibc World Market Inc. bought a new position in shares of Dine Brands Global during the 2nd quarter valued at about $25,212,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Dine Brands Global during the 4th quarter valued at about $9,099,000. Millennium Management LLC raised its holdings in shares of Dine Brands Global by 51.2% during the 1st quarter. Millennium Management LLC now owns 507,801 shares of the restaurant operator’s stock valued at $11,817,000 after buying an additional 172,013 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Dine Brands Global in the 3rd quarter worth approximately $4,175,000. Institutional investors own 92.83% of the company’s stock.

Dine Brands Global Trading Down 2.3%

DIN opened at $32.33 on Wednesday. Dine Brands Global, Inc. has a 12 month low of $22.47 and a 12 month high of $39.68. The business’s 50-day moving average price is $35.18 and its 200-day moving average price is $31.58. The company has a market cap of $409.30 million, a P/E ratio of 68.79 and a beta of 0.94.

Dine Brands Global (NYSE:DIN) last issued its earnings results on Wednesday, August 5th. The restaurant operator reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). Dine Brands Global had a net margin of 0.75% and a negative return on equity of 20.34%. The company had revenue of $240.90 million for the quarter, compared to analysts’ expectations of $237.28 million. During the same quarter in the prior year, the company earned $1.17 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Dine Brands Global, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler upped their target price on Dine Brands Global from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Benchmark reissued a “hold” rating on shares of Dine Brands Global in a research note on Monday, August 10th. Zacks Research lowered shares of Dine Brands Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Dine Brands Global in a report on Tuesday, June 9th. Finally, Barclays cut their price objective on shares of Dine Brands Global from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $32.83.

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.