Cibc World Market Inc. Buys New Shares in Dine Brands Global, Inc. $DIN

Cibc World Market Inc. acquired a new stake in Dine Brands Global, Inc. (NYSE:DIN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 702,291 shares of the restaurant operator’s stock, valued at approximately $25,212,000. Cibc World Market Inc. owned about 0.06% of Dine Brands Global at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DIN. Garton & Associates Financial Advisors LLC acquired a new position in shares of Dine Brands Global during the 4th quarter worth about $26,000. Advisory Services Network LLC acquired a new stake in Dine Brands Global during the 3rd quarter worth approximately $27,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Dine Brands Global during the third quarter worth $50,000. Tower Research Capital LLC TRC raised its stake in Dine Brands Global by 307.6% in the 2nd 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, Meeder Asset Management Inc. bought a new stake in shares of Dine Brands Global in the second quarter valued at approximately $73,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Dine Brands Global Stock Performance

Shares of NYSE DIN opened at $35.86 on Monday. The stock has a market cap of $453.99 million, a price-to-earnings ratio of 76.30 and a beta of 0.96. Dine Brands Global, Inc. has a fifty-two week low of $21.85 and a fifty-two week high of $39.68. The firm’s 50-day simple moving average is $35.07 and its 200 day simple moving average is $31.64.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DIN shares. Benchmark reaffirmed a “hold” rating on shares of Dine Brands Global in a research report on Monday, August 10th. Barclays reduced their price objective on Dine Brands Global from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Dine Brands Global in a research report on Tuesday, June 9th. Piper Sandler raised their price objective on Dine Brands Global from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Zacks Research downgraded Dine Brands Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Dine Brands Global currently has a consensus rating of “Reduce” and an average target price 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.