Cubist Systematic Strategies LLC Increases Stake in Dine Brands Global, Inc. (NYSE:DIN)

Cubist Systematic Strategies LLC increased its position in shares of Dine Brands Global, Inc. (NYSE:DIN) by 19.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,286 shares of the restaurant operator’s stock after buying an additional 24,556 shares during the period. Cubist Systematic Strategies LLC’s holdings in Dine Brands Global were worth $5,368,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DIN. Summit Securities Group LLC purchased a new position in shares of Dine Brands Global during the second quarter valued at $35,000. Quarry LP increased its stake in shares of Dine Brands Global by 207.2% during the fourth quarter. Quarry LP now owns 725 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 489 shares during the period. Headlands Technologies LLC increased its stake in shares of Dine Brands Global by 438.7% during the first quarter. Headlands Technologies LLC now owns 765 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 623 shares during the period. SG Americas Securities LLC purchased a new position in shares of Dine Brands Global during the second quarter valued at $111,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Dine Brands Global by 30.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,221 shares of the restaurant operator’s stock valued at $117,000 after buying an additional 746 shares during the period. Hedge funds and other institutional investors own 92.83% of the company’s stock.

Dine Brands Global Stock Performance

Shares of NYSE DIN opened at $31.65 on Friday. The company has a market cap of $487.57 million, a PE ratio of 5.63 and a beta of 1.72. The business has a 50-day simple moving average of $31.77 and a two-hundred day simple moving average of $37.87. Dine Brands Global, Inc. has a fifty-two week low of $28.25 and a fifty-two week high of $53.26.

Dine Brands Global (NYSE:DIN) last issued 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 negative return on equity of 35.88% and a net margin of 11.14%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. On average, sell-side analysts predict that Dine Brands Global, Inc. will post 5.86 earnings per share for the current fiscal year.

Dine Brands Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.45%. The ex-dividend date is Friday, September 20th. Dine Brands Global’s dividend payout ratio is presently 36.30%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DIN. Barclays cut their price target on Dine Brands Global from $54.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Benchmark downgraded Dine Brands Global from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial dropped their price objective on Dine Brands Global from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. StockNews.com raised Dine Brands Global from a “hold” rating to a “buy” rating in a research report on Monday, September 2nd. Finally, KeyCorp dropped their price objective on 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dine Brands Global has a consensus rating of “Moderate Buy” and a consensus target price of $48.86.

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.