BlackRock Inc. Buys Shares of 1,332,372 Dine Brands Global, Inc. $DIN

Key Points

• BlackRock acquired 1,332,372 shares of Dine Brands Global in the second quarter, worth approximately $47.8 million, giving it a 10.5% stake. Institutional investors collectively own 92.83% of the company.
• Analyst sentiment remains cautious: eight analysts rate DIN a Hold and one rates it Sell, producing an average “Reduce” rating and a $32.83 price target.
• Dine Brands reported quarterly revenue of $240.9 million, up 4.4% year over year, but earnings per share of $1.16 fell short of the $1.20 consensus estimate.

BlackRock Inc. purchased a new position in Dine Brands Global, Inc. (NYSE:DIN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,332,372 shares of the restaurant operator's stock, valued at approximately $47,832,000. BlackRock Inc. owned approximately 10.50% of Dine Brands Global at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC purchased a new stake in Dine Brands Global during the fourth quarter valued at approximately $26,000. Advisory Services Network LLC purchased a new position in Dine Brands Global in the third quarter worth $27,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Dine Brands Global in the third quarter worth $50,000. Tower Research Capital LLC TRC increased its position in shares of Dine Brands Global by 307.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the restaurant operator's stock worth $51,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in shares of Dine Brands Global during the third quarter worth $87,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DIN has been the topic of several recent analyst reports. Mizuho set a $38.00 target price on Dine Brands Global in a research report on Thursday, August 6th. Zacks Research downgraded Dine Brands Global from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Freedom Broker upgraded Dine Brands Global to a "hold" rating in a research note on Monday, August 24th. Benchmark restated a "hold" rating on shares of Dine Brands Global in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dine Brands Global in a research report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Dine Brands Global currently has an average rating of "Reduce" and an average price target of $32.83.

Dine Brands Global Price Performance

NYSE:DIN opened at $32.98 on Tuesday. The company has a 50 day moving average price of $35.20 and a 200-day moving average price of $31.60. Dine Brands Global, Inc. has a 1-year low of $22.47 and a 1-year high of $39.68. The firm has a market cap of $417.53 million, a price-to-earnings ratio of 70.17 and a beta of 0.96.

Dine Brands Global (NYSE:DIN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). The firm had revenue of $240.90 million for the quarter, compared to analysts' expectations of $237.28 million. Dine Brands Global had a negative return on equity of 20.34% and a net margin of 0.75%.The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. On average, sell-side analysts anticipate that Dine Brands Global, Inc. will post 4.28 earnings per share for the current fiscal year.

Dine Brands Global 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source