Cibc World Market Inc. Makes New Investment in Dine Brands Global, Inc. $DIN

Key Points

• Cibc World Market Inc. acquired 702,291 shares of Dine Brands Global in the second quarter, worth about $25.2 million and representing a 5.55% stake. Institutional investors collectively own 92.83% of the company.
• Dine Brands reported quarterly EPS of $1.16, below the $1.20 consensus estimate, while revenue of $240.9 million exceeded expectations and rose 4.4% year over year.
• Analyst sentiment remains cautious: seven analysts rate the stock a Hold and one rates it a Sell, resulting in a consensus “Reduce” rating and an average price target of $32.83, below its $35.86 opening price.

Cibc World Market Inc. bought a new position in Dine Brands Global, Inc. (NYSE:DIN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 702,291 shares of the restaurant operator's stock, valued at approximately $25,212,000. Cibc World Market Inc. owned 5.55% of Dine Brands Global at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Dine Brands Global in the second quarter worth approximately $720,000. Quantbot Technologies LP purchased a new position in Dine Brands Global during the 2nd quarter valued at about $318,000. Landscape Capital Management L.L.C. acquired a new position in Dine Brands Global in the 2nd quarter valued at approximately $1,386,000. Meeder Asset Management Inc. purchased a new stake in shares of Dine Brands Global during the second quarter worth $73,000. Finally, BlackRock Inc. purchased a new stake in shares of Dine Brands Global during the 2nd quarter worth about $47,832,000. Institutional investors own 92.83% of the company's stock.

Dine Brands Global Stock Up 0.1%

NYSE:DIN opened at $35.86 on Monday. The firm has a market capitalization of $453.99 million, a P/E ratio of 76.30 and a beta of 0.96. Dine Brands Global, Inc. has a 12-month low of $21.85 and a 12-month high of $39.68. The stock's fifty day simple moving average is $35.07 and its 200-day simple moving average is $31.64.

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 for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). The firm had revenue of $240.90 million during the quarter, compared to analyst estimates of $237.28 million. Dine Brands Global had a net margin of 0.75% and a negative return on equity of 20.34%. The business's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, equities research analysts expect that Dine Brands Global, Inc. will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

DIN has been the subject of a number of recent research reports. Benchmark reiterated a "hold" rating on shares of Dine Brands Global in a report on Monday, August 10th. Weiss Ratings restated a "hold (c-)" rating on shares of Dine Brands Global in a report on Tuesday, June 9th. Zacks Research cut Dine Brands Global from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 4th. Mizuho set a $38.00 price objective on Dine Brands Global in a report on Thursday, August 6th. Finally, Piper Sandler lifted their price target on shares of Dine Brands Global from $28.00 to $37.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Dine Brands Global presently has a consensus rating of "Reduce" and an average 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.

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