Granite Point Capital Management L.P. decreased its holdings in DineEquity Inc (NYSE:DIN) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,500 shares of the restaurant operator’s stock after selling 2,500 shares during the quarter. Granite Point Capital Management L.P. owned 0.15% of DineEquity worth $1,182,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in DineEquity by 80.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,332 shares of the restaurant operator’s stock worth $146,000 after purchasing an additional 1,482 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in DineEquity by 2.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 100 shares during the period. Crossmark Global Holdings Inc. bought a new position in DineEquity in the 3rd quarter valued at about $228,000. WBI Investments Inc. bought a new position in DineEquity in the 2nd quarter valued at about $230,000. Finally, Oppenheimer & Co. Inc. bought a new position in DineEquity in the 2nd quarter valued at about $244,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
DIN has been the topic of several recent analyst reports. Maxim Group raised their target price on shares of DineEquity from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, November 9th. They noted that the move was a valuation call. Zacks Investment Research raised shares of DineEquity from a “strong sell” rating to a “hold” rating in a report on Monday, October 16th. ValuEngine lowered shares of DineEquity from a “buy” rating to a “hold” rating in a report on Friday, September 1st. TheStreet lowered shares of DineEquity from a “c” rating to a “d+” rating in a report on Friday, November 10th. Finally, BidaskClub raised shares of DineEquity from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $57.64.
DineEquity (NYSE:DIN) last announced its quarterly earnings results on Thursday, November 9th. The restaurant operator reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. The company had revenue of $144.67 million for the quarter, compared to analyst estimates of $146.92 million. DineEquity had a negative net margin of 64.74% and a positive return on equity of 64.43%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. research analysts anticipate that DineEquity Inc will post 4.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Monday, December 18th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.65%. The ex-dividend date is Friday, December 15th. DineEquity’s dividend payout ratio (DPR) is presently -17.77%.
In related news, Director Larry Alan Kay sold 778 shares of DineEquity stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $45.14, for a total transaction of $35,118.92. Following the sale, the director now directly owns 8,513 shares of the company’s stock, valued at approximately $384,276.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.15% of the company’s stock.
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DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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