Renaissance Technologies LLC Sells 47,400 Shares of Dine Brands Global, Inc. (NYSE:DIN)

Renaissance Technologies LLC lessened its stake in Dine Brands Global, Inc. (NYSE:DIN) by 43.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,200 shares of the restaurant operator’s stock after selling 47,400 shares during the quarter. Renaissance Technologies LLC owned 0.40% of Dine Brands Global worth $2,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DIN. Factorial Partners LLC increased its position in shares of Dine Brands Global by 10.0% in the second quarter. Factorial Partners LLC now owns 33,000 shares of the restaurant operator’s stock valued at $1,195,000 after acquiring an additional 3,000 shares during the last quarter. LSV Asset Management boosted its stake in shares of Dine Brands Global by 2.8% in the second quarter. LSV Asset Management now owns 661,092 shares of the restaurant operator’s stock valued at $23,932,000 after buying an additional 18,200 shares during the period. Savant Capital LLC bought a new stake in shares of Dine Brands Global in the second quarter valued at approximately $550,000. Rhumbline Advisers boosted its stake in shares of Dine Brands Global by 7.3% in the second quarter. Rhumbline Advisers now owns 49,652 shares of the restaurant operator’s stock valued at $1,797,000 after buying an additional 3,388 shares during the period. Finally, Summit Financial LLC bought a new stake in Dine Brands Global during the second quarter worth $232,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

Dine Brands Global Price Performance

DIN opened at $34.54 on Thursday. Dine Brands Global, Inc. has a one year low of $28.25 and a one year high of $53.26. The firm has a market capitalization of $532.09 million, a P/E ratio of 6.15 and a beta of 1.72. The company has a fifty day moving average price of $31.61 and a 200-day moving average price of $37.38.

Dine Brands Global (NYSE:DIN) last posted its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.07. The business had revenue of $206.30 million during the quarter, compared to the consensus estimate of $210.46 million. Dine Brands Global had a net margin of 11.14% and a negative return on equity of 35.88%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. On average, analysts expect that Dine Brands Global, Inc. will post 5.86 earnings per share for the current year.

Dine Brands Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 20th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Friday, September 20th. Dine Brands Global’s dividend payout ratio is currently 36.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DIN shares. Benchmark cut Dine Brands Global from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. KeyCorp cut their price objective on shares of Dine Brands Global from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Wedbush raised shares of Dine Brands Global from a “neutral” rating to an “outperform” rating and raised their price target for the company from $34.00 to $47.00 in a research report on Tuesday. UBS Group dropped their target price on shares of Dine Brands Global from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays decreased their price target on shares of Dine Brands Global from $54.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.71.

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.