Dine Brands Global, Inc. (NYSE:DIN) Position Lessened by Millennium Management LLC

Millennium Management LLC reduced its position in shares of Dine Brands Global, Inc. (NYSE:DIN - Free Report) by 38.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 335,788 shares of the restaurant operator's stock after selling 212,421 shares during the quarter. Millennium Management LLC owned about 2.20% of Dine Brands Global worth $10,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in Dine Brands Global by 628.1% during the 4th quarter. Lazard Asset Management LLC now owns 103,827 shares of the restaurant operator's stock valued at $3,124,000 after purchasing an additional 89,567 shares in the last quarter. Gotham Asset Management LLC bought a new position in Dine Brands Global during the 4th quarter valued at $262,000. Deutsche Bank AG boosted its stake in Dine Brands Global by 694.0% during the 4th quarter. Deutsche Bank AG now owns 65,308 shares of the restaurant operator's stock valued at $1,966,000 after purchasing an additional 57,083 shares in the last quarter. CastleKnight Management LP boosted its stake in Dine Brands Global by 19.0% during the 4th quarter. CastleKnight Management LP now owns 101,061 shares of the restaurant operator's stock valued at $3,042,000 after purchasing an additional 16,161 shares in the last quarter. Finally, Centiva Capital LP boosted its stake in Dine Brands Global by 10.7% during the 4th quarter. Centiva Capital LP now owns 21,636 shares of the restaurant operator's stock valued at $651,000 after purchasing an additional 2,089 shares in the last quarter. 92.83% of the stock is owned by institutional investors.

Dine Brands Global Stock Up 0.6%

Shares of DIN traded up $0.15 during mid-day trading on Thursday, reaching $24.59. The company's stock had a trading volume of 83,510 shares, compared to its average volume of 651,745. The business has a fifty day moving average of $21.92 and a 200 day moving average of $26.78. The company has a market cap of $384.17 million, a price-to-earnings ratio of 4.09 and a beta of 1.11. Dine Brands Global, Inc. has a 1 year low of $18.63 and a 1 year high of $40.75.

Dine Brands Global (NYSE:DIN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.15). Dine Brands Global had a negative return on equity of 37.75% and a net margin of 11.31%. The firm had revenue of $214.78 million for the quarter, compared to analysts' expectations of $216.19 million. During the same quarter in the prior year, the business posted $1.33 earnings per share. Dine Brands Global's revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Dine Brands Global, Inc. will post 5.84 earnings per share for the current year.

Dine Brands Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 20th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 20th. This represents a $2.04 annualized dividend and a dividend yield of 8.30%. Dine Brands Global's dividend payout ratio is 56.51%.

Analyst Ratings Changes

A number of brokerages have recently commented on DIN. Wedbush cut their price objective on Dine Brands Global from $28.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Barclays increased their price objective on Dine Brands Global from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Truist Financial cut their price objective on Dine Brands Global from $27.00 to $23.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. UBS Group cut their price objective on Dine Brands Global from $25.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Sanford C. Bernstein set a $26.00 price objective on Dine Brands Global in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Dine Brands Global currently has an average rating of "Hold" and an average price target of $26.29.

Dine Brands Global Profile

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.